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State Bank of India launches up to $1.5 bln share sale-sources
January 28, 2014 / 1:26 PM / 4 years ago

State Bank of India launches up to $1.5 bln share sale-sources

Jan 28 (Reuters) - State Bank of India, the country’s largest lender, on Tuesday launched a share sale to raise up to $1.5 billion that will be used to boost its domestic and overseas banking operations, three sources with direct knowledge of the deal said.

The bank is selling shares to institutional investors in the price band of 1,565 rupees to 1,596 rupees a share, said the sources, who declined to be named as they were not authorised to speak to the media.

State Bank of India shares ended 0.1 percent up on Tuesday at 1,596.30 rupees. (Reporting by Sumeet Chatterjee; Editing by Anand Basu)

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