State Bank of India (SBI), the largest public sector lender, announced allotment of 196.5 million equity shares to Government of India (GOI) on preferential basis worth Rs. 53.93 billion.
The bank said, "The committee of directors for capital raising in its meeting held on Sep 29, 2015 approved the issue of share at an issue price of Rs.274.37 a share of face value of Re.1 each, including a premium of Rs.273.37 a share."
Shares of the bank declined Rs 1.85, or 0.78%, to settle at Rs 235.40. The total volume of shares traded was 1,274,231 at the BSE (Thursday).
Total volume of shares traded on the bourses today was lower by 27.07% to 12,864,729 compared with 22-day average volume of 17,638,742.