Jan 29, 2014, 09.29 PM IST
Market sources indicate that the investor appetite was so low that individual investors subscribed to fewer SBI shares. Also the cap on the number of investors at 49 made it difficult for the bank to raise the required amount.
Tags et sources, investor appetite, State Bank of India
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SBI QIP gets a tepid response
Market sources indicate that the investor appetite was so low that individual investors subscribed to fewer SBI shares. Also the cap on the number of investors at 49 made it difficult for the bank to raise the required amount.
Like this story, share it with millions of investors on M3
SBI QIP gets a tepid response
Market sources indicate that the investor appetite was so low that individual investors subscribed to fewer SBI shares. Also the cap on the number of investors at 49 made it difficult for the bank to raise the required amount.
The bank managed to raise only USD 1.2 billion (Rs 7500 crore) at the lower price band of Rs 1565 per share.
Market sources indicate that the investor appetite was so low that individual investors subscribed to fewer SBI shares. Also the cap on the number of investors at 49 made it difficult for the bank to raise the required amount.
Also read: ICICI Bank Q3 profit grows 13% on higher NII, other income
According to sources investors were cautious about the sector. Deutsche bank, Citibank, HSBC, UBS, JPMORGAN & SBI CAP were the bankers to SBI QIP.
SBI stock price
On January 29, 2014, State Bank of India closed at Rs 1573.65, down Rs 22.3, or 1.4 percent. The 52-week high of the share was Rs 2486.00 and the 52-week low was Rs 1452.90.
The company's trailing 12-month (TTM) EPS was at Rs 177.08 per share as per the quarter ended September 2013. The stock's price-to-earnings (P/E) ratio was 8.89. The latest book value of the company is Rs 1422.43 per share. At current value, the price-to-book value of the company is 1.11.
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