State Bank of India set to hire Six banks for up to Rs. 15,000 Crore share sale


State Bank of India is set to hire Bank of America Merrill Lynch, Deutsche Bank, IIFL, JM Financial, Kotak and SBI Capital to deal with a share sale of up to Rs. 15,000 crore, IFR reported on Friday, citing two sources with knowledge of the plan.

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