India’s largest bank set to launch biggest-ever institutional share offering
Mumbai: The State Bank of India (SBI) is preparing to raise up to ₹25,000 crore (about $2.9 billion) through a Qualified Institutional Placement (QIP), potentially launching as early as next week. If fully subscribed, this would become India’s largest QIP ever, breaking the previous record held by Coal India Ltd.’s ₹22,560 crore sale in 2015.
This major share sale comes after SBI’s board gave its approval in May 2025. The plan aims to fuel loan growth, strengthen the bank’s balance sheet, and meet regulatory capital requirements.
This would be SBI’s first equity market fundraising since 2017. The bank is majority-owned by the Government of India and is the country’s largest lender by assets.
To manage the deal, SBI has reportedly shortlisted six top investment banks. These include the Indian divisions of Citigroup, HSBC, Morgan Stanley, ICICI Securities, Kotak Investment Banking, and SBI Capital Markets.
People familiar with the matter have said that while preparations are underway, final details are yet to be confirmed. SBI has not officially responded to media queries so far.
This QIP will provide SBI with additional capital to expand its lending operations and maintain a strong financial base in a growing economy. The move is also seen as a signal of growing investor confidence in the Indian banking sector.
