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The State Bank of India has said that it will be raising Rs 5,681 crore through issuance of preferential shares to the central government, its majority.
SBI has said in a BSE filing that “The Committee of Directors for Capital Raising of the Bank… has accorded its approval to fix the issue price at Rs 269.59 per shares of face value of Re 1 each, including a premium of Rs 268.59 per share and accordingly, to issue 21,07,27,400 equity shares…. on preferential basis to Government of India, for a consideration of Rs 5,680.99 crore.”
