State Bank of India, the country's biggest lender, on Wednesday raised $1.2 billion, or nearly Rs. 7500 crore, through a share sale, less than its target of $1.5 billion, three sources with direct knowledge of the deal said.
The state-run bank, which accounts for a quarter of the country's loans and deposits, sold 4.96 crore shares to institutional investors at Rs. 1,565 each, said the sources, declining to be named before an official announcement.
SBI had launched the share sale on Tuesday with a price band of Rs.1,565-1,596 a share, a discount of up to 2 per cent.
The state-run bank, which accounts for a quarter of the country's loans and deposits, sold 4.96 crore shares to institutional investors at Rs. 1,565 each, said the sources, declining to be named before an official announcement.
SBI had launched the share sale on Tuesday with a price band of Rs.1,565-1,596 a share, a discount of up to 2 per cent.
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