SBI Gets Shareholders’ Nod To Raise Rs. 15,000 Crore

According to State bank of India largest banker in the country approval to raise up to Rs 15,000 crore by public issue or overseas issuance of shares.In january 2016 SBI had informed about its plans to raise this sum of Rs 15,000 crore by March 2017.
In the General Meeting was convened to obtain the shareholders’ approval, to create offer, issue and allot such number of equity shares of Re 1 each, not exceeding Rs 15,000 crore or such amount as may be approved by the Government and the RBI.
As per the SBI there issue will be subject to the condition that the Government shareholding in the bank’s equity share capital does not fall below 52 per cent at any point of time. SBI can be raised by either of the ways including public issue, rights issue or private placement, such as qualified institutional placement (QIP) or Global Depository Receipt or American Depository Receipt or any another mode or a combination these all decided by Bank board
Extra info:
– SBI is 2nd Largest Bank in the world.

So lets Do
1-Recently SBI started his overseas branch in ?
2-How much approval of its shareholders to raise up to ?
3-What you understand by
qualified institutional placement?

                        Source – NDTV Profit

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