SBI raises ₹25,000 via share sale to LIC; check details

State Bank of India (SBI) successfully raised ₹25,000 crore through a Qualified Institutional Placement (QIP), the bank said on Monday, July 21.

The national bank’s board of directors, at a meeting, approved the allocation of 30.59 crore (or 30,59,97,552) equity shares at an issue price of ₹817 apiece with a face value of ₹1 each, including a premium of ₹816 per share.

The bank closed the issue on July 21, pursuant to the receipt of the application forms and the funds in the escrow account from the eligible Qualified Institutional Buyers (QIBs) in accordance with the terms of the issue, State Bank of India said in a regulatory filing.

The panel also finalised the allocation note to be sent to the eligible QIBs, intimating them of the allocation of equity shares under the issue.

LIC will hold 87.59 crore (or 87,58,59,380) shares of SBI, compared to 81.47 crore (or 81,46,59,869) earlier. These shares will be credited to the insurer on July 23, 2025. This is India’s largest ever share sale through QIP.

The issue was 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 subsequent shareholder approval in June.

SBI stock performance

Shares of the State Bank of India closed 0.15% higher at ₹824.6 apiece on the National Stock Exchange (NSE) on Monday. However, the announcement came after the market closed.

The stock gained 1.82% over the past week and 0.47% since the beginning of July. It surged 6.33% in the first quarter of the 2025-26 financial year (Q1FY26) and 3.68% on a year-to-date basis.

While the scrip hit a year’s low of ₹680 on March 3, 2025, it reached a 52-week high of ₹899 per share almost a year ago, on July 19, 2024.

State Bank of India has a total market capitalisation of ₹7.36 lakh crore, as of July 21, 2025, as per data on the NSE.