State Bank of India (SBI), the nation’s biggest lender, is planning to raise up to Rs 15,000 crore additional capital from the market by the end of 2015. The bank will retained the option to raise the funds either through a sale to its existing shareholders or through a special sale to institutional investors in which case the government's stake could fall to 54% from 58.6% at current market prices. Currently, the bank is seeking the Government of India or Reserve Bank of India’s approval for raising capital under the State Bank of India Act. Last year in January, the bank had raised equity capital to the tune of Rs. 8,032 crore, with the Life Insurance Corporation of India (LIC) subscribing to over 40 per cent of the issue.
SBI has registered 30.54% jump in its net profit at Rs 3100.41 crore for second quarter ended September 30, 2014 as compared to Rs 2375.01 crore for the same quarter in the previous year. Total income of the bank has increased 12.46% at Rs 41833.36 crore for Q2FY15 as compared Rs 37199.92 crore for the corresponding quarter previous year.
State Bank of India is currently trading at Rs. 333.30, up by 3.50 points or 1.06% from its previous closing of Rs. 329.80 on the BSE.
SBI has registered 30.54% jump in its net profit at Rs 3100.41 crore for second quarter ended September 30, 2014 as compared to Rs 2375.01 crore for the same quarter in the previous year. Total income of the bank has increased 12.46% at Rs 41833.36 crore for Q2FY15 as compared Rs 37199.92 crore for the corresponding quarter previous year.
State Bank of India is currently trading at Rs. 333.30, up by 3.50 points or 1.06% from its previous closing of Rs. 329.80 on the BSE.
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