New Delhi, Feb 17 : State Bank 0f India said it will issue equity shares to government at a price of Rs 300.82 a piece against a capital infusion of over Rs 8,799.99 crore.
The issue price is higher than the prevailing trading price on the stock exchanges.
The committee of directors for capital raising at a meeting held today approved the issue price.
“The committee of directors… has accorded its approval to fix the issue price of Rs 300.82 per share of face value of Re 1 each, including premium of Rs 299.82 per share,” SBI said in a regulatory filing.
SBI will issue 29,25,33,741 shares on a preferential basis to the government at the price of Rs 300.82 per share for a consideration of Rs 8,799.99 crore, it said further.
Government in October had unveiled a mammoth Rs 2.11 lakh crore capital infusion into the public sector banks in the next two financial years, including Rs 80,000 crore that banks have to raise by issuing bonds.
