New Delhi: State-run lenders including SBI and IDBI Bank have lined up more than Rs 15,000 crore worth of share-sales to institutional investors to shore-up their capital base.
Apart from State Bank of India and IDBI Bank, Indian Overseas Bank, Dena Bank and Allahabad Bank have also evinced interest in raising funds through qualified institutional placement (QIP).
Besides, some more public sector banks are in the process of taking approvals from their boards for QIPs.
These banks are collectively planning to rake in over Rs 15,000 crore through the proposed share-sale to institutional investors. Many of these lenders are expected to raise funds next year.
This alternate resource mobilisation is over and above Rs 14,000 crore capital infusion to be made by the government for the public sector banks during this fiscal.
The funds will be used to boost the capital base of the banks to maintain future growth and Capital Adequacy Ratio (CAR) under new global risk norms.
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