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SBI Gets Shareholders’ Nod To Raise Rs 20,000 Crore
SBI wants to raise funds through a public issue or a private placement, or a combination of both.
07 Dec 2018, 08:00 PM IST 
A State Bank of India Ltd. (SBI) building stands illuminated at night in Mumbai.(Photographer: Dhiraj Singh/Bloomberg)
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.