State Bank of India on 16 July opened a qualified institutional placement of shares worth up to ₹25,000 crore, its first equity fundraising since 2017. The bank set a floor price of ₹811.05 per share, roughly 2.5 percent below Wednesday’s closing price of ₹831.70. Under Securities and Exchange Board of India rules it may offer a discount of up to 5 percent when the issue is priced. People familiar with the transaction said Life Insurance Corporation of India is likely to anchor the deal with a bid exceeding ₹5,000–7,000 crore, while domestic mutual funds have also shown strong interest. Citigroup, HSBC, Morgan Stanley, Kotak Mahindra Capital, ICICI Securities and SBI Capital Markets are acting as book-running lead managers. SBI said the capital raise is intended to bolster its balance sheet rather than fund immediate loan growth. The lender is targeting a common equity Tier 1 ratio of 12 percent and a capital-to-risk weighted assets ratio of 15 percent by March 2027, compared with 10.81 percent and 14.25 percent, respectively, at the end of March 2025. Separately, the board has authorised issuance of up to ₹20,000 crore in Basel III-compliant additional Tier 1 and Tier 2 bonds in the next financial year, adding another avenue to strengthen capital buffers.