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STATE BANK OF INDIA - Outcome of Committee Meeting
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25 Feb 2013
State Bank of India has informed BSE that the Executive Committee of Central Board (ECCB) of the Bank, at its meeting held on February 23, 2013 has accorded its approval :-&lt;br/&gt;&lt;br/&gt;a. To increase the issued capital of the Bank, under Section 5(2) of the SBI Act, by way of preferential allotment of equity shares to Government of India (GOI) to the tune of upto Rs. 3004 crore (including premium), to enable the Bank to support national and international banking operations undertaken through its Subsidiaries and Associates, pursuant to the approvals received from RBI and GOI in accordance with Section 5(2) of the State Bank of India Act, 1955;&lt;br/&gt;&lt;br/&gt;b. To fix the issue Price at Rs. 2312.78 (Rs. Two Thousands Three Hundred Twelve and paise Seventy Eight Only) per share of face value of Rs. 10/-, including a premium of Rs. 2302.78 per share, for the preferential allotment of equity shares to&lt;br/&gt;GOI.&lt;br/&gt;&lt;br/&gt;2. The issue price for issue of shares under preferential allotment has been arrived at in accordance with the SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2009, taking into consideration February 15, 2013 as relevant date.&lt;br/&gt;
View all announcements for STATE BANK OF INDIA Source: BSE India