SBI shares rises as Bank to approve fundraising on 16th July
India’s largest Public Sector Lender, SBI shares surged in Friday’s trading as Bank announced that it will hold a meeting to consider and approve the raising of funds through issuance of Basel III capital bonds.
India’s largest Public Sector Lender, State Bank of India (SBI) shares surged in Friday’s trading session by 0.074% at Rs 808.60 as the Bank has announced that it will hold a meeting to consider and approve the raising of funds through issuance of Basel III capital bonds. The Board meeting would be held on 16th July, 2025.
According to the exchange filing, it is to inform that a meeting of the Central Board of State Bank of India is scheduled to be held on Wednesday, 16th July 2025, inter alia, to consider and seek approval for raising funds during FY26 by way of issuance of Basel III compliant capital bonds in INR.
Join PSU Connect on WhatsApp now for quick updates! Whatsapp Channel
Additionally, the Bank has reduced its stake in Tamilnadu Telecommunications Ltd, a multibagger stock telecom equipment company to 7.28% or 33,23,774 shares. With this, at the end of the March 2025 quarter, SBI’s stake has declined significantly from 9.30% to 7.28%. The shares have been sold via the open market.
The stock has been corrected by 0.33% in last one month.
Read Also : NSIC enters into MoU with IDBI Bank to support MSMEs credit growth