SBI to raise upto 1,200 cr by issuing shares to staff

State Bank of India has proposed to offer share purchase scheme for all its employees which could raise additional equity capital, between Rs 800 crore and Rs 1,200 crore.

"We are planning to offer employees share purchase scheme and not employees stock option scheme," SBI Chairperson Arundhati Bhattacharya said here on Friday during her first visit to the city after taking over as the chief of the bank.

"We have written to the government on this. We cannot say about valuation now, but the total amount will be worth Rs 800-1,200 crore," she said.

She said the scheme would be offered to all bank employees, irrespective of their posts.