State Bank of India (SBI) on Monday, July 21, said it has successfully raised ₹25,000 crore through a qualified institutional placement (QIP).
The board of directors of the national bank at a meeting approved the allotment of 30.59 crore (or 30,59,97,552) equity shares having a face value of ₹1 per share at an issue price of ₹817 per share, including a premium of ₹816 per share.
State Bank of India said in a regulatory filing that after receipt of applications from eligible qualified institutional buyers (QIBs) and funds in the escrow account, as per the terms of the issue, the bank closed the issue on July 21.
The panel also finalised the allotment note to be sent to eligible QIBs, informing them of the allotment of equity shares under the issue.
Life Insurance Corporation (LIC) in a separate filing announced that it has increased its stake in SBI to 9.49% from 9.21% earlier through the QIP.
LIC will hold 87.59 crore (or 87,58,59,380) shares of SBI, as against 81.47 crore (or 81,46,59,869) shares it held earlier. These shares will be offered to the insurance company on July 23, 2025. This is India’s largest share sale through a QIP till date.
The issue opened on July 16, 2025 at a floor price of ₹811.05 per equity share. The QIP was approved by the bank’s board of directors in May and received shareholders’ approval in June.
SBI stock performance
Shares of State Bank of India closed 0.15% higher at ₹824.6 per share on the National Stock Exchange (NSE) on Monday. However, the announcement came after market close.
The stock gained 1.82% in the past week and 0.47% since the beginning of July. It gained 6.33% in the first quarter of FY 2025-26 (Q1 FY 2026) and 3.68% on a year-to-date basis.
The stock hit a one-year low of ₹680 on March 3, 2025, while it hit a 52-week high of ₹899 per share almost a year ago, on July 19, 2024.
As per NSE data, the total market capitalization of State Bank of India as of July 21, 2025 is ₹7.36 lakh crore.
