Public sector banks, including SBI, Bank of Baroda (BoI) and IDBI Bank, plan to raise Rs 58,000 crore through equity dilution during the current fiscal to meet Basel-III norms and clean up their balance sheets
Public sector banks, including SBI, Bank of Baroda (BoI) and IDBI Bank, plan to raise Rs 58,000 crore through equity dilution during the current fiscal to meet Basel-III norms and clean up their balance sheets.
Leading the pack, country's largest lender SBI plans to raise Rs 15,000 crore through share sale and expects this to complete by the year-end, probably through a qualified institutional placement (QIP).
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"This is something for which we have everything in place but we will go when the market is conducive," SBI Chairperson Arundhati Bhattacharya has said. Besides, BoI and Central Bank of India plan to raise Rs 6,000 crore and Rs 6,500 crore from capital markets, respectively.
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