Mumbai, March 24: Country’s largest lender State Bank has decided to raise up to Rs 15,000 crore through a rights issue in the third quarter of the next fiscal and will seek government nod for this as early as next month, a top SBI official said.
“We will do that (approach the government for rights issue) after the close of this financial year. If we go by current estimates, we may require to go (for the rights issue) in the third quarter of the next financial year. The amount will be between Rs 10,000 and 15,000 crore,” the official told PTI here today.
–Agencies