SBI listing was pivotal to growth: Setty

Mumbai: The listing of State Bank of India shares in the stock exchanges in 1995 played a key role in ensuring that the country’s largest bank stayed ahead of the pack, said chairman CS Setty at the ceremony to mark the completion of the bank’s Rs 25000 crore qualified institutional placement (QIP) at NSE on Wednesday.

“Listing on the exchanges has been pivotal in shaping our identity and fostering growth. It has enabled us to access capital markets, expanding our investor base and reinforcing our commitment to transparency and accountability.,” he said.

“With 452 crore customers and 40 lakh investors, we have remained steadfast through the ups and downs of the market, guided by our principles of consistency, productivity, and resilience,” he said

Calling the Rs 25,000 crore QIP India’s largest ever equity capital raise, Setty said, “The book received a robust demand and was oversubscribed four and a half times. More than Rs 1.12 lakh crore was the amount of bids we attracted, reflecting strong investor confidence in SBI and in India’s banking sector.”

“Foreign investors accounted for more than 64% of the total demand, underscoring the continued interest in India's growth story. This landmark equity issue is a vote of confidence in SBI's strong fundamentals, prudential risk management, and customer centricity,” he said.

Setty said the bank would use the capital to strengthen buffers and fuel credit growth. “With a digital-first approach, the bank will utilise these funds to augment capital buffers. The capital structure will be strengthened further, and it will support credit growth across various sectors,” he said.

He described SBI as an institution deeply intertwined with the country's development. “This year, SBI completed celebrating 70 years of its new avatar. Our philosophy—‘Saat Dashak, Desh ke Saath’—reflects our commitment to nation-building. Our legacy of over 219 years is testimony to the unwavering support of our customers, investors, employees, and stakeholders who have stood by us through thick and thin,” Setty said.

“Today’s milestone not only marks our enduring presence in the market but also highlights the remarkable journey we have embarked upon since our listing on NSE in 1995,” he said.


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