SBI NEEDS TO RAISE RS.40,000 CR. IN FIVE YEARS: BHATT

According to Mr. O.P. Bhatt, Chairman, State Bank of India, the bank would raise somewhere around Rs.40000 crore over the next five years through rights issue. This number would, however, keep on changing depending upon requirements, especially of the bank's subsidiaries. Of the Rs 40,000-crore, SBI is looking at raising up to Rs 20,000-crore in the next fiscal. 

The bank would raise funds at an opportune time depending upon market conditions, the government's pricing and requirement of its subsidiaries, especially its insurance arm, which is unlisted.


Source: http://economictimes.indiatimes.com/markets/stocks/market-news/SBI-needs-to-raise-Rs-40000-cr-in-five-years-Bhatt/articleshow/5611189.cms