India's largest mortgage lender, the State Bank of India (SBI) Thursday said it has got the approval of its shareholders for raising Rs.15,000 crore fresh equity capital.
In its filing to the stock exchanges, the SBI said the resolution authorising the bank to go for equity issue was approved by the shareholders at its general meeting.
The agenda for the general meeting is to get the shareholders nod to raise additional capital through follow-on-public offer (FPO)/rights issue/private placement including qualified institutions placement/global depository receipts/American Depository Receipts or a combination of the all these.
The bank said post issue, the central government's holding will not fall below 52 percent.
The bank had earlier said the equity issue is also to maintain its capital adequacy ratio (CAR) at 12 percent from fiscal 2014-15 and 2015-16 and also to fund the anticipated business growth.
