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The Latest Breaking News from State Bank of India

ICICI Bank prices $1 billion debt in largest dollar issue by Indian private lender

ICICI Bank successfully issued a five-year dollar bond worth $1 billion, achieving a notably tighter spread. This offering stands as the largest for an Indian bank in almost fourteen years. With a coupon set at 100 basis points above U.S. Treasuries, it surpassed initial expectations. The offering utilized the central…

The Economic Times

SBI PO Admit Card 2026 out at ibpsreg.ibps.in: Check how to download, direct link, exam day guidelines and more

The State Bank of India released the SBI PO Prelims Admit Card 2026 on July 22. This admit card is essential for candidates appearing in the preliminary examination. The exam is scheduled to take place on August 1 and 2, 2026. Nearly 12.14 lakh candidates registered for these 1,500 Probationary…

The Economic Times

$17.4 billion flows into FCNR(B) deposits: Which bank offers the best 3-year FCNR(B) FD rate—SBI, PNB, HDFC Bank, ICICI Bank or Canara Bank?

Foreign currency deposits have seen significant inflows after a new RBI scheme. Canara Bank offers the highest 3-year FCNR(B) USD fixed deposit rate. HDFC Bank, Axis Bank, and ICICI Bank offer a 6% interest rate. These deposits are available in various foreign currencies and offer tax exemptions.

The Economic Times

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NRO FD interest rates: Earn up to 6.75%—SBI, HDFC Bank, PNB, ICICI Bank or Axis Bank, which offers the best rate for NRIs?

Non-Resident Indians can park their Indian income in NRO fixed deposits. These deposits offer attractive interest rates, with some banks providing up to 6.75 percent. Banks like Bank of Baroda offer the highest rates on specific tenures. Investors should consider tax implications and Double Taxation Avoidance Agreements. Understanding these factors…

The Economic Times

SBI Funds Management shares list at 7% premium over IPO price on NSE

SBI Funds Management shares debuted on D-Street Tuesday, listing at a premium. The IPO saw robust investor response, subscribed over forty-one times overall. Institutional investors drove demand, with QIB portion subscribed impressively. The company is India's largest AMC by Quarterly Average Assets Under Management. Financials show consistent revenue and profit…

The Economic Times

SBI Funds Management IPO listing tomorrow: GMP signals 18% listing gain

SBI Funds Management is set to debut on the NSE and BSE on July 21, with the grey market indicating an around 18% listing premium over the IPO price. The Rs 9,813-crore IPO attracted strong investor interest, with the issue being subscribed 41.66 times during the July 14–16 bidding period.

The Economic Times

M-cap of five of top 10 most valued firms jumps Rs 1.54 lakh cr; TCS biggest winner

Last week marked a significant uplift in the market valuation of five of the top 10 firms, appreciating by Rs 1.54 lakh crore. Tata Consultancy Services claimed the spotlight, boosting its valuation by Rs 72,072.3 crore. ICICI Bank and Reliance Industries also experienced notable increases. However, the tide turned for…

The Economic Times

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SBI Funds Management IPO allotment likely today; GMP signals 17% listing premium. Here's how to check status

The IPO is scheduled to make its stock market debut on the BSE and NSE on July 21. The IPO is commanding a Grey Market Premium (GMP) of around Rs 97 per share, implying an estimated listing premium of nearly 17% over the upper issue price of Rs 574.

The Economic Times

SBI Funds Management gets highest applications for any IPO this year, sees Rs 2.98 lakh crore investor rush

SBI Funds Management's Rs 9,813 crore IPO saw 42 times subscription on its final day. Qualified institutional buyers led the strong demand, subscribing 140.11 times their allocated portion. The issue received nearly 65 lakh applications, the highest number for any IPO this year. The company, India's largest asset manager, is…

The Economic Times

SBI Funds Management IPO ends with nearly 42 times subscription as QIBs drive demand on Day 3; GMP hints at 16% premium

SBI Funds Management IPO is experiencing robust investor demand on its final bidding day. The grey market premium indicates a potential listing price of approximately Rs 666 per share. Retail investors have shown steady participation in the ongoing public offering. The company's IPO is a complete Offer for Sale, raising…

The Economic Times

HDFC Bank, SBI, other stocks jump up to 2%; Nifty Bank gains 560 points. What lies ahead?

Banking stocks rallied up to 2% on Wednesday, lifting the Nifty Bank index as investors positioned themselves ahead of a crucial round of Q1 earnings from major private lenders this weekend. Brokerages remain constructive on the sector, citing improving fundamentals, resilient loan growth and stable asset quality, while cautioning that…

The Economic Times

SBI Funds Management IPO: Issue subscribed 2.77 times on Day 2; GMP signals 16% listing gains

SBI Funds Management IPO received robust demand on its second day of bidding. Non-institutional investors led the subscription, booking over six times their allocated portion. The Grey Market Premium suggests a potential listing price of approximately Rs 662 per share. This public issue, an Offer for Sale, will remain open…

The Economic Times

Moody's affirms SBI, HDFC Bank ratings on strong asset quality

Moody's Ratings has confirmed the ratings for both State Bank of India and HDFC Bank, attributing a stable outlook to their robust asset quality. SBI excels with its diverse lending practices and stable net interest margins, while HDFC Bank is bolstered by a strong retail presence that ensures a low-cost…

The Economic Times

Insurance distribution boosts fee income at most public sector banks in FY26

Public sector banks earned higher insurance commissions in FY26, with most lenders reporting growth. Mutual fund distribution income showed mixed performance across various banks. State Bank of India led insurance commissions, with significant contributions from its subsidiary. Canara Bank and Bank of Baroda also reported insurance commission increases. However, Punjab…

The Economic Times

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The Economic Times

SBI Funds Management IPO: How SBI shareholders can improve chances of allotment

The SBI Funds Management IPO was subscribed 52% on day one. Eligible SBI shareholders can apply under a reserved quota, competing only with fellow shareholders, potentially improving allotment chances. Investors may also apply separately in the retail category, while post-record-date SBI buyers remain ineligible.

The Economic Times

SBI Funds Management IPO: Issue subscribed 68% on Day 1; GMP at 16%. Should you bid?

SBI Funds Management IPO: The issue is attracting positive sentiment in the grey market, where it is commanding a GMP of around 16%, signalling expectations of a strong listing.

The Economic Times

SBI Funds Management IPO opens for bidding. Check brokerage reviews, GMP, subscription status & other key details

SBI Funds Management's Rs 9,813 crore IPO opened for subscription on Tuesday at a price band of Rs 545-574 per share and will close on July 16. The issue, comprising a pure offer for sale by SBI and Amundi, carries an 18% grey market premium. Investors can bid for a…

The Economic Times

SBI Funds reduces IPO size to Rs 9,813 crore after pre-offer placement. Will it impact listing gains?

SBI Funds Management has cut its IPO size to Rs 9,813 crore from Rs 11,693 crore after raising Rs 1,655 crore through a pre-IPO placement with 30 anchor investors. The IPO, entirely an offer-for-sale by SBI and Amundi India Holding, will open on July 14. SBI sold 1.42% stake at…

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The Economic Times

SBI Funds IPO anchor book draws Capital Group, BlackRock, Goldman, GIC

SBI Funds Management's IPO anchor book saw strong investor interest. Key global and Indian funds participated, subscribing more than twenty times over. The offering is expected to raise approximately $309 million from anchor investors. This marks India's first billion-dollar IPO this year. The public issue opens for subscription on July…

The Economic Times

SBI Funds Management IPO set to open: GMP signals 16% listing gain; Check price band, key dates & details

SBI Funds Management will launch its Rs 11,692.91 crore IPO on July 14. Investor enthusiasm is building in the grey market, indicating a premium. The price band is set at Rs 545-574 per equity share for this offering. This public issue is entirely an Offer for Sale by selling shareholders.…

The Economic Times

Mcap of 4 of top-10 most valued firms jumps Rs 92,995 cr; HDFC Bank, Airtel top gainers

Last week, four major firms experienced a significant market valuation increase of over Rs 92,000 crore, with HDFC Bank and Bharti Airtel leading the charge. Despite benchmark indices Sensex and Nifty dipping slightly and breaking their winning streak due to geopolitical tensions and escalating crude oil prices, the markets managed…

The Economic Times

Prashant Jain, other top investors pick Rs 1,655 crore stake in SBI Funds Management pre-IPO deals

SBI Funds Management has raised Rs 1,655 crore through a pre-IPO placement by selling a 1.42% stake to 30 marquee investors, including Prashant Jain-led 3P India Equity Fund I. The strong institutional participation comes ahead of the AMC's Rs 11,692.91-crore IPO, which opens for subscription on July 14.

The Economic Times

SBI to sell 1.42% stake in SBI Funds in pre-IPO deal

State Bank of India is selling a stake in its asset management unit. This pre-IPO placement provides an early valuation benchmark for the company. SBI Funds Management's initial public offering will open for bids on July fourteenth. The asset manager seeks a valuation of up to 1.17 trillion rupees. The…

The Economic Times

SBI Funds Management IPO: What portion is reserved for SBI's 38 lakh shareholders?

SBI Funds Management's Rs 11,693-crore IPO has earmarked up to 1.3 crore shares worth nearly Rs 750 crore for eligible SBI shareholders. The offer opens on July 14, with over 38 lakh SBI shareholders eligible to apply under the reserved category, subject to meeting the company's eligibility criteria.

The Economic Times

State Bank of India draws over $1.5 billion in forex deposits

State Bank of India has raised over $1.5 billion from overseas citizens. This program offers attractive returns due to Reserve Bank of India subsidies. Depositors can leverage funds, earning more than their borrowing costs. Banks are expanding outreach to India's large diaspora globally. This initiative echoes a similar plan from…

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