SBI Raises ₹250 Billion Via QIP At ₹817/Share

State Bank of India has raised ₹250 billion through a qualified institutional placement, with the board approving closure of the issue on Monday after receiving application forms and funds in the escrow account.

The issue price was set at ₹817 per share, a 0.8% discount to Monday’s closing price of ₹824. SBI will allot 306 million equity shares of face value ₹1 each.

The QIP was launched Wednesday with a floor price of ₹811.05 per share. This is SBI’s first QIP since 2017-2018, when it raised ₹150 billion.