SBI Launches Mega-QIP, Shares Trade Flat
India’s largest lender, State Bank of India (SBI), has launched its Rs 25,000-crore qualified institutional placement (QIP), which opened on Wednesday. The bank has received necessary regulatory approvals and has set the floor price for the issue at Rs 811.05 per share, marking a 2.5% discount against the stock’s Wednesday closing price of Rs 830.5 per share.
