State Bank of India launched its qualified Institutional Placement (QIP) on 16 July. The floor price for this is Rs 811.05 per share. This is 2.46 percent less than the closed price of SBI share on BSE. The bank is preparing to raise Rs 25000 crore from Institutional Investors with the help of its QIP. According to Bloomberg data, if the QIP is full subscribed, it will be the largest QIP ever in India. Earlier in 2015, Coal India brought QIP of Rs 22,560 crore.
The board of SBI approved its QIP in May this year. Earlier in June 2017, SBI collected Tier-1 equity capital worth Rs 15,000 crore through QIP.