Mumbai : The country’s largest lender SBI may hit the market by June with plans to raise Rs.15,000 cr through sale of shares. While SBI is yet to formally decide on the timing of the share sale plan, the biggest ever by the state-run bank, merchant banking sources said that it might take place by June as the conditions are not seen to be very conducive at the moment.
SBI Deputy Managing Director and Chief Financial Officer P K Gupta said, “We have a one-year window starting March 1, 2015. We have not decided on the date.” The fund raising routes will include follow-on offer, qualified institutional placement, rights issue, private placement, global depository receiptsor combination of all these.
