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State Bank of India said its Board will meet on January 14, to consider the issue of increase in the issued Capital of the Bank through Right Issue.
Updated : Sep 15, 2017, 01:53 AM IST
NEW DELHI: Country's largest lender, the State Bank of India (SBI) on Monday said its Board will meet on January 14, to consider the issue of increase in the issued Capital of the Bank through Right Issue
The board will also consider the issue of Employees Stock Purchase Scheme (ESPS), it said in a statement.
The public sector bank is expected to raise Rs 16,000 crore through the rights issue.
The government has already cleared the issue, in which it will invest around Rs 10,000 crore through issue of bonds to maintain its stake at over 59 per cent.