(Reuters) -State Bank of India, the country’s largest lender by assets, is preparing to sell as much as 250 billion rupees ($2.9 billion) of shares to institutional investors as early as next week, Bloomberg News reported on Thursday, citing sources familiar with the matter.
The plans haven’t been finalised and are subject to change, the Bloomberg report said.
SBI did not immediately respond to Reuters’ request for comment.
The bank’s board had approved the sale in May.
Indian state-owned banks will raise around 450 billion rupees through qualified institutional placement of shares in the 2025-26 financial year, a government source told reporters on Wednesday.
(Reporting by Ananta Agarwal in Bengaluru; Editing by Janane Venkatraman and Mrigank Dhaniwala)
