SBI Launches ₹250-Billion QIP at ₹811.05 Floor Price

State Bank of India on Wednesday opened its qualified institutional placement to raise equity capital, setting the floor price at ₹811.05 per share. The bank said it may offer a discount of up to 5%, at its discretion.

The final issue price will be determined in consultation with the book-running lead managers. In May, the board approved raising up to ₹250 billion through the placement.

According to earlier reports, SBI has shortlisted five investment banks to manage the offering—Kotak Mahindra Capital, Citigroup Capital Markets, HSBC, Morgan Stanley and ICICI Securities. SBI Capital Markets, the group’s investment banking arm, will lead the transaction.

This marks the bank’s first equity fundraise via qualified institutional placement since 2017–18, when it raised ₹150 billion.