MUMBAI Jan 31 State Bank of India Ltd,
the country's largest lender, said it has raised 80.32 billion
rupees ($1.28 billion) through a sale of shares to institutional
investors to boost its capital requirements.
The proceeds from the share sale will increase the overall
capital adequacy ratio of the state-run bank to 12.81 percent
and tier one capital adequacy ratio to over 9.67 percent, SBI
said in a statement late on Thursday.
SBI launched the share offering on Tuesday in the indicative
price band of 1,565-1,596 rupees a share to raise as much as
$1.5 billion. The bank sold 51.3 million shares in the offering
at the lower end of the range.
($1 = 62.6750 Indian rupees)
(Reporting by Sumeet Chatterjee; Editing by Prateek Chatterjee)