In an exchange filing late Monday night, SBI disclosed that majority of the shares, as part of its Qualified Institutional Placement (QIP), through which it raised ₹25,000 crore, were issued to LIC.
SBI approved the issue of 30.59 crore shares at an issue price of ₹817 per share on Monday evening to eligible institutional bidders. The QIP had received strong demand with interest from domestic and foreign institutions alike. The issue price is a discount of 0.8% to Monday’s closing price
Data shows that LIC was issued 20% of the overall QIP shares worth ₹5,000 crore. Other prominent institutions who were issued shares include Societe Generale, HDFC Life Insurance, HDFC Mutual Fund and Quant Mutual Fund.
| Fund | % Of QIP | Worth (₹ Crore) |
| LIC (Various Schemes) | 20 | 5,000 |
| Societe Generale | 10.37 | 2,592 |
| HDFC Life Insurance | 6 | 1,500 |
| HDFC MF (Various Schemes) | 5.2 | 1,300 |
| Quant MF | 5.08 | 1,270 |
Nearly 50% of all the shares approved in the QIP, were issued to these above-highlighted funds.
LIC already has a 9.2% stake in State Bank of India, based on its most recently available shareholding pattern, while HDFC MF has a 1.58% stake.
Post the share allotment, the total paid-up equity share capital of the lender increased from ₹892.54 crore, comprising of 892 crore equity shares of face value of ₹1 to ₹923.06 crore, comprising of 923 crore equity shares of face value of ₹1 each.
Shares of State Bank of India ended little changed on Monday at ₹824.6. The stock has risen 4% in the last one month, which is also the quantum it has gained so far in 2025.
