SBI to allot 51320436 equity shares at Rs. 1565

In respect of the issue of Equity Shares to Qualified Institutional Buyers in terms of Chapter VIII of the ICDR Regulations, the duly authorized Committee of Directors of State Bank of India for the QIP (the "Committee") has, in its meeting held on February 03, 2014, decided to issue and allot 5,13,20,436 Equity shares at a price of Rs.1565 per Equity Share (including a premium of Rs.1555 per Equity Share), aggregating Rs.80,31,64,82,340 (Rupees Eight thousand thirty one crores sixty four lacs eighty two thousand three hundred forty only).

Shares of State Bank of India was last trading in BSE at Rs.1489.85, down by Rs.35.75 or 2.34%. The stock hit an intraday high of Rs.1530 and intraday low of Rs.1486.55.

The total traded quantity was 2.57 lakh shares as compared to 2 week average of 2.32 lakh shares.

Source : Equity Bulls

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