Mumbai, July 16 -- The State Bank of India is on a mega fundraising drive in FY26, with plans to tap both the debt and equity markets for up to Rs.45,000 crore to beef up its capital ratios.

The state-owned lender's board on Wednesday approved raising up to Rs.20,000 crore through Basel III-compliant additional tier-I (AT1) and tier-II bonds. The board approval for the bond issues comes even as the qualified institutional placement (QIP) of the bank's shares opened for subscription-its first since FY18 when it raised Rs.18,000 crore. State Bank of India (SBI) has set the floor price for the QIP at Rs.811.05 per equity share.

The board approval for bond issues is part of the bank's annual capital planning, which includes QIPs of up to Rs...