SBI issue price for pref shares fixed at Rs 2,312

State Bank of India today said it has fixed issue price of Rs 2,312.78 a share for preferential allotment to the government to raise Rs 3,004 crore as part of the capital infusion plan for this fiscal.

The infusion will enable the bank to support national and international banking operations through its subsidiaries and associates, SBI said in a BSE filing.

"The executive committee of central board of the bank has fixed issue price at Rs 2,312.78 per share of face value of Rs 10 including a premium of Rs 2,302.78 per share, for the preferential allotment of equity shares to the government of India," it said.

On February 23 the board approved infusion of capital funds in the bank to the tune of Rs 3,004 crore during 2012-13, the filing said.

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