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Informist, Wednesday, Jul. 9, 2025
--Fin min source: PSU banks may raise up to INR 450 bln via QIP in FY26
NEW DELHI – State-owned banks are likely to raise up to INR 450 bln through qualified institutional placement in 2025-26 (Apr-Mar), a senior finance ministry official said Wednesday. Leading the charge, State Bank of India will raise up to INR 250 bln soon, the official said.
According to media reports, State Bank of India has shortlisted five investment banks to manage its upcoming qualified institutional placement worth INR 250 billion. Informist reported Wednesday that Bank of Maharashtra has sought approval from the Reserve Bank of India to raise up to INR 50.00 billion through a qualified institutional placement in FY26.
These QIPs will also help five PSU banks--Bank of Maharashtra, Central Bank of India, UCO Bank, Indian Overseas Bank, and Punjab & Sind Bank--to meet the mandated minimum public shareholding norms.
The government had in August 2024 allowed these five banks time till Aug. 1, 2026, to meet the public shareholding norms. This is in line with the Securities Contract (Regulation) Rules issued by the Securities and Exchange Board of India, which mandate that all listed companies, including those in the public sector, must have a minimum public shareholding of 25%. SEBI's minimum public shareholding norm has been in place since 1993, but its provisions modified from time to time.
Other than for these five banks, the freshly raised capital will be used to support growth, the official said. End
Reported by Sagar Sen
Edited by Akul Nishant Akhoury
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