SBI QIP Garners Strong Institutional Investor Interest

Overwhelming Investor Demand: State Bank of India's

₹25,000 crore Qualified Institutional Placement (QIP) garnered exceptional investor interest, being oversubscribed threefold to ₹75,000 crore in under a day. Launched on July 16 at a floor price of ₹811.05 per share (a slight discount to its last traded price), this capital infusion aims to bolster SBI's lending capacity and fortify its financial standing. This marks SBI's first equity capital raise since 2017. ife Insurance Corporation of India (LIC) led domestic fund houses, committing ₹7,000 crore, followed by Quant Mutual Fund with ₹3,000 crore. Other notable Indian participants included HDFC Pension Fund, ICICI Prudential Mutual Fund, Motilal Oswal Mutual Fund, and Birla Mutual Fund. Among Foreign Institutional Investors (FIIs), Nomura bid for ₹1,800 crore worth of shares, while Marshall Wace and Millennium each placed bids for ₹1,500 crore.