State Bank of India (SBI) will consider raising funds through Follow-on Public offer (FPO), rights issue or Qualified Institutional Placement (QIP) for the current financial year to March 2026. The final approval will be given by the government or the Reserve bank of India.
In an exchange filing, the largest public sector lender said that a board meeting will be held on May 3 to mull fundraise through equity. The bank informed the exchange after the market closing hours.
The bank will also announce its March quarter results on May 3.
It reported 84 percent increase in net profit at Rs 16,891 crore for the quarter ended December 31, 2024. The PSU lender reported net profit of 9,164 crore in the year-ago period.
The bank's net interest income increased 4 percent to Rs 41,446 crore from Rs 39,816 crore in the year-ago period. The bank's employee expenses dropped 17 percent to Rs 16,074 crore. SBI's domestic loans grew 14.06 perent year-on-year.
Shares of SBI traded under selling pressure on Tuesday, settling at Rs 810.75 per share on the NSE, down 0.81 percent.
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