SBI to raise Rs 200b via rights issue
Thursday, 10 June 2010
NEW DELHI, June 9 (PTI): Country's largest lender State Bank of India (SBI) today said it was planning to mop up Rs 200 billion from rights issue by this fiscal end.
"We are expecting to raise Rs 200 billion from rights issue," SBI Chairman OP Bhatt told reporters on the sidelines of a CII event in New Delhi.
He said the issue may come by this fiscal end since the bank is currently talking to the government about it.
"It is still at the conversation stage (with the government). That is why, if at all it comes up, may be it would be coming up towards the end of this fiscal," Bhatt said.
On the liquidity in the system, SBI said it will remain tight in June due to payment towards 3G spectrum auction and expected outgo for broadband wireless access (BWA).
"We are expecting to raise Rs 200 billion from rights issue," SBI Chairman OP Bhatt told reporters on the sidelines of a CII event in New Delhi.
He said the issue may come by this fiscal end since the bank is currently talking to the government about it.
"It is still at the conversation stage (with the government). That is why, if at all it comes up, may be it would be coming up towards the end of this fiscal," Bhatt said.
On the liquidity in the system, SBI said it will remain tight in June due to payment towards 3G spectrum auction and expected outgo for broadband wireless access (BWA).