Preferential Issue of equity shares



The Executive Director

The BSE Ltd.                                                                                                     25.08.2015

Phiroze Jeejeebhoy Tower,

25^th Floor, Dalal Street,                                                                       CC/S&B/MJ/1298
Mumbai - 400001

Dear Sir/Madam,

 

State Bank of India
Preferential Issue of equity shares to Government of India

 

We advise that, pursuant to the in-principle approval received from the Government of India, the Central Board of the Bank on 25.08.2015, has decided:-

i. to create, offer and issue equity shares of Rs. 1 each, ranking pari-passu with the existing equity shares of the Bank in all respect including payment of dividend, by way of Preferential Issue to the GoI, not exceeding Rs. 5393 crore (Rupees five thousand three hundred and ninety three crore), subject to the approval of the Government of India and the Reserve Bank of India under section 5 (2) of the State Bank of India Act, 1955.

ii. to seek approval of GoI & RBI under section 5 (2) of the State Bank of India Act, 1955 to increase the issued capital by raising additional equity share capital upto Rs. 5393 crore (Rupees five thousand three hundred and ninety three crore) by way of Preferential Issue to GoI.

2. Please arrange to take the information on record.

 

Yours Faithfully,

 

(Shekar Vishvanath)

General Manager