MUMBAI Jan 29 State Bank of India, the
country's biggest lender, on Wednesday raised $1.2 billion
through a share sale, less than its target of $1.5 billion,
three sources with direct knowledge of the deal said.
The state-run bank, which accounts for a quarter of the
country's loans and deposits, sold 49.64 million shares to
institutional investors at 1,565 rupees each, said the sources,
declining to be named before an official announcement.
SBI had launched the share sale on Tuesday with a price band
of 1,565-1,596 rupees a share, a discount of up to 2
(Reporting by Sumeet Chatterjee; Editing by Anupama Dwivedi)