Deals
India's SBI Selects Banks for $1.4 Billion Share Sale
- Government-run lender picks BofA, CLSA, HSBC to arrange deal
- State Bank of India bolstering capital amid faster loan growth
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State Bank of India, the country’s largest lender, has selected underwriters for an institutional share sale that could raise at least 100 billion rupees ($1.4 billion), people with knowledge of the matter said.
The government-run lender picked Bank of America Corp., CLSA Ltd. and HSBC Holdings Plc to arrange the offering, according to the people, who asked not to be identified because the information is private. Kotak Mahindra Bank Ltd. and SBI Capital Markets Ltd. were also chosen to work on the deal, the people said.