18-July-2024
Banking
 
Sidbi to raise Rs 10,000 cr from rights issue to expand equity capital
18-Sep-2023

Small Industries Development Bank of India (Sidbi), which refinances SME loans, plans to float a Rs 10,000-crore rights issue next fiscal to expand its equity capital as it expects to grow assets to Rs 5 lakh crore by March 2024 from about Rs 4 lakh crore in March 2023, a top official has said. The central government owns 20.8 per cent in Sidbi, while State Bank of India holds 15.65 per cent and Life Insurance Corporation 13.33 per cent. The rest of the equity is held by other public financial institutions and banks. The shareholders will subscribe to the proposed rights issue.

News Source:- https://www.business-standard.com/finance/news/sidbi-to-raise-rs-10-000-cr-from-rights-issue-to-expand-equity-capital-123091700385_1.html