Mumbai, July 16 -- State Bank of India, the country's largest lender, will open its Rs.25,000-crore qualified institutional placement (QIP) on Wednesday, NDTV Profit reported, citing a stock exchange filing.

The bank has received the necessary regulatory clearances and has set the floor price for the issue at Rs.811.05 per share.

It may offer a discount of up to 5% on this price.

Sources indicated that Life Insurance Corporation of India is expected to be the largest anchor investor in the QIP, with domestic mutual funds also likely to participate.

SBI last conducted a QIP in June 2017, raising Rs.15,000 crore at an issue price of Rs.287.25 per share-offered at a 1% discount at the time.

The current QIP aims to bolster the bank's cap...