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SBI may raise capital

State Bank of India will raise up to Rs 15,000 crore additional capital from the market. The bank’s committee of directors for capital raising has an enabling approval from the shareholders for raising additional equity capital up to Rs 15,000 crore by way of public issue (follow-on public issue) or rights issue or private placement, including qualified institutional placement (QIP) / global depository receipts (GDR) / American depository receipts (ADRs) and/or any other mode or a combination therefore, the bank said in a filing with the Bombay Stock Exchange and National Stock Exchange. The government has said it would allow its stake in state-owned banks to fall to 52%. At present, the Government holds 58.6% stake in SBI.

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