It took a little over three years for State Bank of India (SBI) to overwhelm the markets with the sale of its shares to institutional investors (called qualified institutional placement or QIP in banking parlance).
In January 2014, SBI struggled to raise just over Rs 8,000 crore, way below the targeted Rs 9,600 crore, which, many believed, was a bailout by Life Insurance Corporation of India (LIC). Many foreign institutional investors (FIIs) skipped the issue then over difference on pricing and concerns over bad assets.