SBI to raise up to Rs 9576 cr via share sale

Dec 02, 2013, 04.24 PM IST

It plans to raise another Rs 2000 crore through sale of shares to the government on a preferential basis.

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It plans to raise another Rs 2000 crore through sale of shares to the government on a preferential basis.

Like this story, share it with millions of investors on M3

SBI to raise up to Rs 9576 cr via share sale

It plans to raise another Rs 2000 crore through sale of shares to the government on a preferential basis.

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State Bank of India , the country's largest lender, will raise up to Rs 9576 crore through a share sale to institutional investors or a follow-on public offer, it said in a statement late on Friday.

It plans to raise another Rs 2000 crore through sale of shares to the government on a preferential basis.

SBI posted its steepest quarterly profit fall in more than two years in the three months to September as non-performing loans increased, putting pressure on the lender to raise funds quickly.

Chairwoman Arundhati Bhattacharya said earlier that the bank plans to raise the funds, including Rs 5000 crore through bonds, before March 31.

SBI stock price

On December 02, 2013, State Bank of India closed at Rs 1822.65, up Rs 1.15, or 0.06 percent. The 52-week high of the share was Rs 2550.00 and the 52-week low was Rs 1452.90.

The company's trailing 12-month (TTM) EPS was at Rs 179.98 per share as per the quarter ended September 2013. The stock's price-to-earnings (P/E) ratio was 10.13. The latest book value of the company is Rs 1445.60 per share. At current value, the price-to-book value of the company is 1.26.

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