State Bank of India’s monumental ₹25,000-crore QIP witnessed overwhelming demand, exceeding four times the offered stock. Attracting bids worth ₹1.10 lakh crore from around 120 investors, including BlackRock and Marshall Wace, the sale underscores confidence in SBI’s growth prospects. The capital raise will bolster SBI’s CET 1 ratio, positioning it for future expansion.
LIC shares gain 6% in two sessions. Should you buy ahead of the 1:1 bonus issue?
LIC shares climbed 4% on Monday, extending gains for a second straight session and taking the two-day rally to 6%. The stock gained momentum after