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State Bank Of India raises $1.28 bln via share sale - Reuters

Thursday, 30 Jan 2014 12:05pm EST 

State Bank Of India:Says it has raised 80.32 billion rupees ($1.28 billion) through a sale of shares to institutional investors to boost its capital requirements - Reuters.Says 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 launched the share offering on Jan 28 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. 

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