After raising Rs 15,000 crore through the largest-ever equity issuance in the country, State Bank of India on Friday said it is comfortable on the capital front and will not seek any capital infusion from the Government in the current fiscal. The bank recently raised Rs 15,000 crore through qualified institutional placement (QIP). It issued around 52.21 crore new shares at a price of Rs 287.25.
“As per the plan we have put in place, we are quite comfortable on the capital front till next year. We will not require the Government funds in FY18. At this point we have not asked for capital (from the Government).
“Even without this capital raising, we can meet all the regulatory capital requirements up to 2019, including Basel III need. This is over and above that,” SBI chairman Arundhati Bhattacharya told reporters here.
Bhattacharya said in the current fiscal the bank will be focusing on listing its life insurance arm. “We have plans of unlocking value by listing at least the life insurance subsidiary. So there will be some more (capital) that we (will) get through our non-core divestments,” she said.