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State Bank of India gets shareholders' nod to raise Rs 20,000 cr through share sale

New Delhi: 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 way of public issue (i.e. follow-on public offer) or private placement, including QIP/GDR/ADR and/or any other mode or a combination(s) thereof, as may be decided by the board," the bank said.

SBI shares closed 0.13 percent down at Rs 275.40 on the BSE.

Updated Date: Dec 07, 2018 17:55 PM

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