SBI to raise Rs 25k crore via QIP this fiscal

Mumbai: State Bank of India is looking to raise up to Rs 25,000 crore through a qualified institutional placement (QIP) in the current financial year, according to sources.The country's largest lender has reached out to investment bankers and shortlisted Citigroup, Morgan Stanley, HSBC, Kotak Mahindra Capital and ICICI Securities to manage the share sale, the sources said.

The capital raise, if executed near current market levels, could see the central government's stake fall from 57% to around 55.5%, they added. TNN