A State Bank of India Ltd. (SBI) building stands illuminated at night in Mumbai.(Photographer: Dhiraj Singh/Bloomberg)

SBI Gets Shareholders’ Nod To Raise Rs 20,000 Crore

State Bank of India on Friday said it has received shareholders’ approval to raise up to Rs 20,000 crore through sale of shares.

The country’s largest lender held a general meeting of its shareholders in Mumbai to seek approval for the business as a special resolution, it said in a regulatory filing.

Shareholders’ approval was sought "to create, offer, issue and allot such number of equity shares for an amount not exceeding Rs 20,000 crore” through a public issue or private placement that could include qualified institutional placement, global depository receipts, American depository receipts or a combination of any of these.

Shares closed 0.13 percent down at Rs 275.40 on the BSE.