State Bank Of India

State Bank of India (SBI) will launch a planned share sale of as much as $2.3 billion as early as this week in order to raise funds through Qualified Institutional Placement (QIP) from institutional investors. Earlier in March, the bank received board’s approval to raise up to Rs 15,000 crore ($2.33 billion) from capital markets during the current fiscal year that began in April.

SBI offers a wide range of services in the Personal Banking, Agriculture/Rural, NRI services, SME and Corporate Banking etc. It is a government-owned corporation with its headquarters in Mumbai, Maharashtra.