State Bank of India has informed that the Committee of Directors for Capital Raising (the ‘Committee’) of the Bank, in its meeting held on November 24, 2016, has accorded its approval to fix the issue Price at Rs 269.59 per share of face value of Re 1 each, including a premium of Rs 268.59 per share and accordingly, to issue 210,727,400 equity shares, ranking pari-passu with the existing equity shares of the Bank, in all respects, including payment of dividend, if any, on preferential basis to Gol, for a consideration of Rs 56,809,999,766.00, subject to the approval of Reserve Bank of India and Government of India U/s 5(2) of the State Bank of India Act and shareholders of the Bank in terms of the SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2009; and the price for preferential issue has been arrived at in accordance with the SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2009, taking into consideration the November 18, 2016 as the relevant date.
The above information is a part of company’s filings submitted to BSE.
