SBI Board To Meet On May 3 To Consider Results, Decide On Fundraise

State Bank of India's board of directors will meet on Saturday to consider its financial results, as well as to decide on raising funds.

The board will also discuss and approve the proposal for raising equity during fiscal 2026 by way of follow-on public offer, rights issue, qualified institutional placement, and any other mode, according to State Bank of India's exchange filing on Tuesday.

The lender may also opt for a combination of the above modes at the opportune time or as may be approved by the Union government or the RBI, the disclosure added.

However, it did not mention the amount that the bank hopes to raise.

Earlier, on April 25, the public sector undertaking had intimated via stock exchange filings that S&P Global Ratings has affirmed its credit rating to BBB-/Positive/A-3. The rating agency has also affirmed SBI's standalone credit profile to bbb, the bank had said, adding that the outlook on its rating "remains positive".

S&P expects SBI to maintain its market leadership and strong funding/liquidity in India's banking sector over the next two years.

Shares of SBI closed 0.72% lower at Rs 811.75 apiece on the BSE, compared to a 0.09% advance in the benchmark Sensex. The bank shared the filing regarding its board meeting after stock markets had closed on on Tuesday.

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