State Bank India (SBI) today said its rights issue proposal is on course and it could happen in another 2-3 months. The country’s largest bank submitted proposal a a couple of months of ago to raise Rs 20,000 crore through a rights issue. SBI requires Rs 20,000 crore to fund its growth plans over the next two fiscals.
The government has a 59.4% stake in the bank. In case a rights issue is approved and the government would need to subscribe 59.4% of the total rights being issued to maintain its holding at the current level.*To get the password for buy calls, please subscribe to this blog. You will receive the password in next email to you*