Capital Boost: SBI stake sales add over Rs 13,500 cr to kitty

SBI is set to monetise stakes worth about Rs 13,655 crore this fiscal through the Rs 9,813 crore IPO of its mutual fund arm and a potential offer-for-sale in the upcoming NSE IPO of around Rs 30,000 crore. The bank has already raised Rs 1,655 crore via a pre-IPO placement in the AMC and stands to gain another Rs 7,000 crore at the lower end of the Rs 545 to Rs 574 price band, with a further Rs 5,000 crore expected from the NSE OFS. The windfall could enhance SBI's capital adequacy ratio by 27-30 basis points from the existing 15.40 percent, giving room to front-load provisions under the new ECL framework or accelerate lending growth.