Mumbai : SBI will not require fresh capital for two years after its forthcoming Rs 11,500 crore qualified institutional placement goes through, and any overseas bond sale is expected only after the QIP.
“That (government infusion through a preferential issue followed by the QIP) is the process we are going to follow this year and it will see us for the next two years,” SBI Chairperson Arundhati Bhattacharya told PTI.
Post QIP, for which State Bank of India received shareholders nod earlier this week, government holding in the bank will go down to 58%, she said.
Under the stricter Basel III capital requirement, SBI will need around Rs 2.3 trillion (Rs 2.3 lakh crore) in additional capital by March 2018 (when the Basel III norms are fully implemented).
On its USD 10 billion medium-term notes programme, under which it plans to raise money by issuing bonds in global markets, Bhattacharya hinted that there may not be any activity this fiscal.
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