SBI Set to Raise $3 Billion for Future Growth

In a significant financial maneuver, State Bank of India, the country's largest bank, is setting its sights on raising $3 billion. This ambitious fundraising strategy is slated for the fiscal year 2025-26, and will be executed through either public offerings or private placements.

The bank's Executive Committee of the Central Board is scheduled to meet on May 20 to crystallize their plans. This will involve a comprehensive examination of the current financial status and strategic decisions regarding long-term fundraising, possibly in multiple tranches and in various major foreign currencies.

Despite the optimistic outlook, SBI shares saw a minor downturn, closing at Rs 800.35, which is 0.19% lower on the BSE compared to the previous close.

(With inputs from agencies.)