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Hot Pursuit
06-Jun-23
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SBI board to mull fund raising on June 9
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State Bank of India announced that its central board is scheduled to meet on Friday, 9 June 2023 to consider raising of funds during FY24 through private placement by way of issuance of debt instruments.
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“To seek approval for raising funds during FY24 through private placement mode by way of issuance of debt instruments (including capital instruments) in INR and/or any foreign currency,” the largest PSU bank said in an exchange filing.
State Bank of India (SBI) is an Indian multinational, public sector banking and financial services statutory body. As of 31 March 2023, the Government of India held 57.49% stake in the bank.
The bank reported 83.18% surge in standalone net profit to Rs 16,695 crore on a 29.41% increase in total income to Rs 1,06,912.46 crore in Q4 FY23 over Q4 FY22.
The scrip declined 0.26% to currently trade at Rs 585.50 on the BSE.
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