SBI's Landmark Listing: A Catalyst for Growth

Mumbai: The historic listing of State Bank of India (SBI) shares in 1955 marked a turning point for the nation's largest bank, propelling it to unparalleled heights, as disclosed by Chairman CS Setty during a ceremony celebrating the bank's monumental Rs 25,000 crore qualified institutional placement (QIP) at NSE.

"Listing on the exchanges has been pivotal in shaping our identity and fostering growth," Setty emphasized. "It has enabled us to access capital markets, expanding our investor base and reinforcing our commitment to transparency and accountability."

Unwavering Confidence in SBI's Future

With a staggering 452 crore customers and 40 lakh investors, SBI has demonstrated remarkable resilience and consistency, navigating through market volatilities with unwavering principles of productivity and resilience.

The Rs 25,000 crore QIP, hailed as India's largest ever equity capital raise, witnessed overwhelming demand, oversubscribed four and a half times, with bids exceeding Rs 1.12 lakh crore. "This reflects strong investor confidence in SBI and in India’s banking sector," Setty remarked.

Global Investors Rally Behind SBI

Foreign investors contributed to over 64% of the total demand, a testament to the global faith in India's growth narrative and SBI's robust fundamentals, prudent risk management, and customer-centric approach.

Setty outlined the strategic utilization of the raised capital to fortify buffers and catalyze credit growth across sectors, underpinned by a digital-first strategy. "Our capital structure will be strengthened further, supporting credit growth and reinforcing our legacy," he stated.

A Legacy of Nation-Building

Celebrating 70 years of its new avatar, SBI's philosophy of 'Saat Dashak, Desh ke Saath' mirrors its dedication to national development. "Our 219-year legacy stands as a testament to the steadfast support of our customers, investors, and stakeholders," Setty concluded, marking the bank's enduring market presence and its remarkable journey since the 1995 NSE listing.