June 6, 2017 / 3:57 AM / a month ago

BUZZ-State Bank of India shares rise after $2.3 bln share sale

1 Min Read

** State Bank of India's shares rise as much as 1.98 pct to highest in two weeks

** Top Indian lender's share sale to institutional investors to raise as much as $2.33 billion fully covered within hours of launch on Monday, sources told Reuters

** SBI selling new shares in a price range of 275.76 rupees ($4.29) to 287.25 rupees a share in the country's biggest ever qualified institutional placement (QIP)

** Shares trading at 291.40 rupees as of 0349 GMT ($1 = 64.3300 Indian rupees)

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