SBI completes Rs 25,000 crore QIP, India’s largest ever QIP fundraising; LIC invests Rs 5,000 crore

State Bank of India (SBI), the country’s largest public sector lender, has successfully raised Rs 25,000 crore through a Qualified Institutional Placement (QIP), making it the largest equity fundraising via QIP in Indian capital markets. The bank’s board approved the issue and allotment of 30.6 crore equity shares at an issue price of Rs 817 per share, closing the QIP late Monday, July 21.