SBI's Record QIP Raises Rs 25,000 Crore: A Landmark in India's Banking Sector

The State Bank of India (SBI) has achieved a significant milestone by raising Rs 25,000 crore through its latest Qualified Institutional Placement (QIP). This marks the largest QIP in the capital markets, driven by robust demand and receiving applications four-and-a-half times the set amount.

Foreign investors displayed marked interest, accounting for 64.3% of the total demand, reflecting the compelling growth narrative of the Indian economy. Notably, marquee long-term investors were allocated 88% of the final shares, indicating strong confidence in the SBI's strategic direction.

According to SBI Chairman C S Setty, this funding bolsters the bank's equity capital, enhancing its CET-1 buffer, and supports balanced credit expansion across various sectors. As part of its broader financial strategy, SBI plans to raise an additional Rs 20,000 crore through bond issuances.

(With inputs from agencies.)