Why SBI, LIC, Reliance Power, Reliance Infra, Rajoo Engineers will be in focus on July 17
State Bank of India’s Committee of Directors’ has approved ₹811.05 a share as the floor price for the bank’s ₹25,000-crore QIP (qualified institutions placement) issue. SBI intends to utilise the net proceeds of the QIP issue towards augmenting its tier-I capital base to meet future capital requirements to support growth plans and enhance the business. India’s largest bank said it may offer a discount of not more than 5 per cent on the floor price. Reports suggest that LIC may participate in one of the largest fundraising plans of SBI.
The boards of Reliance Infrastructure Ltd. and Reliance Power Ltd. authorised the managements of the respective companies to raise up to ₹6,000 crore each through the issuance of equity shares and/or equity linked instruments and/or other eligible securities to qualified institutional buyers by way of a Qualified Institution Placement and /or follow on public offer or a combination thereof. The boards have also approved the issuance of secured / unsecured, redeemable, non-convertible debentures up to ₹3,000 crore each, in one or more tranches / series, on a private placement basis.
Rajoo Engineers, a manufacturer of plastic extrusion machinery, plans to raise ₹180 crore through Qualified Institutional Placement. The company informed that its board has approved the equity share issuance with the floor price of ₹114.42 per equity share. Its share price closed at Rs 136.50 on Wednesday.
Published on July 17, 2025
