State Bank Of India has informed the Exchange that the Executive Committee of the Central Board of the Bank, in its meeting on December 30, 2010, has accorded approval for raising the capital for an aggregate amount of Rs.10,000 crore by way of Public Issue of Subordinated Bonds (Lower Tier II Bonds) during the remaining period of FY 2010-11 and in FY 2011-12, in different tranches and also for raising of Rs.1,000 crore with a green shoe option to retain Rs.1,000 crore, along with an option to retain any amount of oversubscription under the Retail Category beyond Rs.2000 crore but up to the rated amount of Rs.10,000 crores, in the first tranche.
Source: www.moneycontrol.com
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Gaurav Agarwal
Head Dealer
DENIP Consultants Pvt Ltd
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