State Bank of India launches ₹25,000 crore QIP, sets floor price at ₹811.05 per share; check details

The floor price represents nearly a 2.5% discount from the current price of a share. The bank has also authorised opening of the issue on Wednesday.

Shares of State Bank of India (SBI) settled at ₹830.50 apiece, gaining 1.72% on Wednesday.

“We further wish to inform you that the ‘Relevant Date’ for the purpose of the Issue, in terms of Regulation 171(b)(i) of the SEBI ICDR Regulations, is July 16, 2025, and accordingly, the Floor Price in respect of the aforesaid Issue, based on the pricing formula as prescribed under Regulation 176(1) of the SEBI ICDR Regulations, is ₹ 811.05 per Equity Share,” SBI said in a regulatory filing.

The issue price will be determined by the bank in consultation with the book-running lead managers appointed for the issue, the PSU lender further stated.

The QIP was approved by the bank’s board on May 3.

Previously it was reported that the state-run lender had picked Kotak Mahindra Capital Company, ICICI Securities, HSBC Securities and Capital Markets, Citigroup Global Markets, Morgan Stanley India, and SBI Capital Markets to manage the fundraising.

Earlier in the day, the board of directors of SBI also gave the nod to raise up to ₹20,000 crore through bonds on Wednesday, July 16, for the financial year 2025-26. The lender will issue Basel III-compliant Additional Tier 1 and Tier 2 Bonds for the bond raising.

The lender will issue bonds to domestic investors during the ongoing financial year.

For the March quarter, the Mumbai-headquartered bank had reported a net profit of ₹18,642.59 crore in the January-March quarter (Q4 FY25), marking a decline of 10% from ₹20,698.35 crore logged in the corresponding quarter of the previous fiscal year on the back of higher provisioning for non-performing assets.

Its provisions for non-performing assets jumped 20% annually to ₹3,964.23 crore as against ₹3,293.94 crore registered in the year-ago period. Sequentially, provisions jumped 72%.

SBI's net interest income, or the difference between interest earned and interest expended, came in at ₹42,774.63 crore as against ₹41,655.19 crore in the year-ago period. The whole bank's net interest margin (NIM) for Q4 FY25 stood at 3%.