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Stock Market Insights With The Bull! (India) @TheBullCharge on x 1594 followers
Created: 2025-07-24 02:02:27 UTC
▪ SBI
Rs 25,000-cr QIP a vote of confidence, will support credit growth: SBI chairman
SBI chairman C S Setty on Wednesday said the Rs 25,000-crore capital raise through the qualified institutional placement (QIP) route is a vote of confidence on the country's largest lender and also the Indian economy.
Speaking at a ceremony at the NSE to mark the the fund raise as India's biggest share sale ever, Setty said the capital will be deployed for asset growth.
He also said that even before the QIP, the bank was in a position to support asset growth of up to Rs X lakh crore, but the fund raise will be of help for it.
"This landmark equity issue is a vote of confidence in SBI's strong fundamentals, potential risk management and the customer centricity with the digital first approach," Setty said.
Thanking the investors led by state-run life insurance behemoth LIC for the response to the issue, which received bids of over Rs XXXX lakh crore and was over-subscribed by over four times, Setty also spelled out the revised capital levels.
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