SBI board to meet on Jan 14 for rights issue

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New Delhi, Jan 7 (UNI) Country's largest lender, the State Bank of India (SBI) today said its Board will meet on January 14, to consider the issue of increase in the issued Capital of the Bank through Right Issue The board will also consider the issue of Employees Stock Purchase Scheme (ESPS), it said in a statement.

The public sector bank is expected to raise Rs 16,000 crore through the rights issue.

The government has already cleared the issue, in which it will invest around Rs 10,000 crore through issue of bonds to maintain its stake at over 59 per cent.

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