SBI gets $3.5 billion bids, retains $600 million

“SBI prioritised real money investors over hedge funds, closing the fundraise at $600 million. After initial price guidance at T+150 basis points, SBI attracted interest from investors for $3.5 billion,” a source told ET on the condition of anonymity. One basis point is a hundredth of a percentage point.

More To Explore

6 penny stocks soared 20-60% in a week

Our selection criteria focused on stocks with a market capitalisation below Rs 1,000 crore, a share price under Rs 20, and a minimum trading volume