Business Companies 26 May 2017 SBI set to hire six ...

SBI set to hire six banks for up to Rs 15,000 crore worth share sale

REUTERS
Published May 26, 2017, 10:23 am IST
Updated May 26, 2017, 11:38 am IST
A total 17 banks had bid to underwrite the so-called qualified institutional placement.
SBI is largest public sector lender.
 SBI is largest public sector lender.

Mumbai: State Bank of India is set to hire Bank of America Merrill Lynch, Deutsche Bank, IIFL, JM Financial, Kotak and SBI Capital to manage a share sale of up to 150 billion rupees ($2.3 billion), IFR reported on Friday, citing two sources with knowledge of the plan.

A total 17 banks had bid to underwrite the so-called qualified institutional placement, for which SBI will pay a nominal fee of one rupee, IFR, a Thomson Reuters publication, reported.

 

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