Mumbai, July 21 -- The country's largest lender State Bank of India has raised Rs.25,000 crore through a qualified institutional placement (QIP) of its equity shares, making it the largest QIP executed in Indian capital markets. The board of the public sector bank announced the close of the QIP late Monday evening, and approved the issue and allotment of 30.6 crore shares at an issue price of Rs.817 each.

The QIP was subscribed 4.5 times, with 64.3% bids being made by foreign investors. Marquee long-term investors received around 88% of the final allocation, including 24% of the issue size getting placed with foreign long-term investors, the bank said in a release.

"This landmark equity raise is a vote of confidence in SBI's solid funda...