MUMBAI, Feb 25: Country’s biggest commercial bank, State Bank of India (SBI) today said the Executive Committee of Central Board
(ECCB) of the bank at its meeting has approved preferential allotment of equity shares to the Government of India (GoI) to the
tune of up to Rs 3004 crore to enable the bank to support national
and international banking operations undertaken through its Subsidiaries and Associates.
The preferential issue has been priced at Rs 2,312.78 per share.
SBI’s net profit rose by 4.07 per cent to Rs 3396.06 crore on 14.11 per cent growth in total income to Rs 33992.11 crore in third
quarter of December 2012 over third quarter of December 2011.
The Government of India (GoI) currently holds 61.58% stake in SBI (as per the shareholding pattern as on 31 December 2012), a statement issued by the bank said.
(UNI)
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