"SBI Plans ₹25,000 Cr QIP—First Equity Raise in Eight Years"

***** plan to raise up to ₹25,000 cr SBI is gearing up for its first equity sale in eight years via a Qualified Institutional Placement (QIP), targeting ₹25,000 cr to shore up its CET-1 ratio (11% as of Mar’25). Merchant banks agreed to charge just Re 1 a piece—more a prestige play than a fee battle—and Life Insurance Corporation is expected to take a sizable chunk. ***** banks onboard to manage the QIP Kotak Mahindra Capital, Citigroup, HSBC, Morgan Stanley and ICICI Securities have been shortlisted alongside SBI Capital Markets to execute the ₹25,000 cr raise. A QIP offers a faster equity-raising route compared with rights issues or follow-on public offers. ***** reaction and valuation snapshot SBI stock ended at ₹800 on the BSE (up ~1% post-QIP news). It trades at a P/E of 9.15, EPS of ₹86.91 and market cap of ₹7.10 trn. Its 52-week range is ₹680–₹899, with a beta near 1.07, signalling market-matching volatility. ***** capital catalysts ahead Beyond the QIP, SBI awaits proceeds from selling its 13.19% stake in Yes Bank to SMBC and potential gains when its 5.19% holding in NSE lists—both flows that will further bolster its capital base.