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SBI Soon to Hire 6 Merchant Bankers for Rs 15000 Crore Share Sale
MUMBAI: State Bank of India (SBI), the country's largest lender, will soon hire six merchant bankers for managing Rs 15,000 crore share sale. The process for selection is on and will take a few more days before a final call is taken, sources said.
According to sources, many companies including Bank of America Merrill Lynch, Deutsche Bank, Citi, IIFL, JM Financial and Kotak have applied, but nothing has been finalised yet.
SBI, which last month merged itself with five associate banks and the Bharatiya Mahila Bank, will raise funds through follow-on public offer or qualified institutional placement to expand business.
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