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₹25,000 cr SBI QIP draws bids worth ₹1 trn
Business Standard
|July 18, 2025
LIC, domestic MFs lead charge
State Bank of India (SBI), the country's largest lender, attracted bids worth nearly 1 trillion for its 25,000 crore ($2.9 billion) qualified institutional placement (QIP), with local institutions leading the charge, according to people in the know.
Sources said Life Insurance Corporation (LIC) of India placed bids worth over ₹5,000 crore, while domestic mutual funds (MFS), such as SBI MF, ICICI Prudential MF, Aditya Birla Sun Life MF, and HDFC Bank, bid for over 1,500 crore each. About half a dozen foreign portfolio investors (FPIs), including Singapore's GIC and Capital International, also participated in the QIP.
These financial institutions couldn't be reached for independent confirmations.
This story is from the July 18, 2025 edition of Business Standard.
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