SBI QIP opens, floor price fixed at Rs 811.05 per share

State Bank of India on July 16 said the floor price for its qualified institutional placement (QIP) has been fixed at Rs 811.05 per share.

The floor price represents nearly 2.5% discount from the current price of SBI share.

In a stock exchange filing, the lender said it launched a share sale to institutional investors.

"...the Committee of Directors has, at its meeting held today i.e. July 16, 2025, inter alia, passed resolutions for the following: a. Authorising opening of the Issue today, i.e., July 16, 2025; b. Approving the Floor Price for the Issue, being ₹ 811.05 per Equity Share, (“Floor Price”), based on the pricing formula as prescribed under the SEBI ICDR Regulations," said SBI.

On July 16, SBI shares on NSE closed 1.7% higher at Rs 830.5 apiece.

In May 2025, the bank said it received its board approval to raise equity capital aggregating up to Rs 25,000 crore in one or more tranches during FY2026 through QIP/ follow-on public offer (FPO) or any other permitted mode.

Earlier on July 16, CNBC-Awaaz reported that Life Insurance Corporation of India is likely to be anchor investor with Rs 7,000-crore bid.

The QIP is part of SBI’s broader plans to support loan growth, strengthen its balance sheet and meet regulatory requirements. It’s also the first time since 2017 that the lender, majority owned by the government, tapped the equity market.

SBI has shortlisted six investment banks to manage the transaction, including the Indian arms of Citigroup Inc. and HSBC Holdings Plc, as well as ICICI Securities Ltd., Kotak Investment Banking, Morgan Stanley, and SBI Capital Markets Ltd., Bloomberg News reported earlier.

The state-owned bank had last tapped the QIP route in the financial year 2017-18 (Apr-Mar), raising Rs 15,000 crore.

Separately, State Bank of India board on July 16 approved raising up to Rs 20,000 crore through bonds in FY26."The Central Board of the Bank in its meeting held today i.e. 16.07.2025 accorded approval for raising funds in INR by issue of Basel III compliant Additional Tier 1 and Tier 2 Bonds, up to an amount of Rs 20,000 crore to domestic investors during FY26, subject to GOI approval wherever required," said the PSU lender in a stock exchange filing.