State Bank of India (SBI) will raise Rs 15,000 crore through a public offer including rights issue to fund business and meet global capital adequacy norms.

“The committee of the Directors for capital raising has decided to seek government or RBI approval for raising capital up to Rs 15,000 crore by way public issue…,” SBI said in a statement.

The government will sell a stake in state-owned Oil and Natural Gas Corp (ONGC) this fiscal even though falling global oil prices pose a challenge, Oil Minister Dharmendra Pradhan said today.

Government was to sell 5 per cent of its stake in the country’s biggest oil and gas producer ONGC to raise Rs 17,000-18,000 crore.

The International Cricket Ccouncil (ICC), in partnership with Reliance Communications, on Wednesday launched the official ICC Cricket World Cup 2015 app.

The app is now available for free download from the App Store and Google Play.

After its recent collaboration with World Innovation Labs (WiL) and LetsVenture in the last quarter of 2014, Green house Ventures (GHV) has now tied the knot with NASSCOM and Google India’s MD Rajan Anandan, in its ongoing effort to further strengthen the startup ecosystem in India.

Rajan Anandan, who is already associated with NASSCOM’s 10,000 Startups initiative, will also be joining the mentor board at GHV and will also provide valuable insights and perspectives on the Indian entrepreneurship ecosystem.

New Delhi, Jan. 27: India's largest car maker Maruti Suzuki India today reported a 17.8 per cent increase in net profit at Rs 802.2 crore for the third quarter ended December 31, 2014 against Rs 681.15 crore in the same period last fiscal.

Net sales during the quarter stood at Rs 12,263.14 crore, up 15.5 per cent from Rs 10,619.68 crore a year ago.

MUMBAI: Weighed down by debt and losses in its India business, Tata Motors, the world's fourth largest truck maker, plans to raise up to Rs 7,500 crore via a rights issue over the coming months, its third such offering in the company's history since it got listed in 1955.

Cyrus Mistry-led Tata Motors will be approaching shareholders for their approval to allow the vehicle manufacturer to issue new equity shares to reduce its debt load, which stood at Rs 60,774 crore as on September 30, 2014.

BENGALURU: Wipro has won a $150 million (Rs 900 crore) IT outsourcing deal from the Allied Irish Banks (AIB), one of the big four commercial banks in Ireland. India's third largest IT services company will provide infrastructure management services (IMS), data centre and hosting services to AIB over five years. "We are excited to partner with AIB in their journey to transform the Bank. We will bring our expertise to build agile and adaptive infrastructure while improving the predictability and cost effectiveness of services," said Rajan Kohli, senior vice president and global head - banking and financial services in Wipro.

GMR Infrastructure Ltd on Tuesday said multilateral finance institution Asian Development Bank (ADB) will lend $75 million for its $750 million Philippines airport project.

GMR-Megawide Cebu Airport Corp. (GMCAC), a joint venture between GMR (40% shareholding) and Megawide Construction Corp. (60%), has amended its financing documents of its Mactan Cebu International Airport located in Cebu, Philippines to include the ADB loan, GMR Infrastructure told the Bombay Stock Exchange.

Mumbai: The State Bank of India (SBI) is looking to raise Rs.15,000 crore from the markets.

In a notice to the exchanges on Tuesday, the country’s largest lender said it’s board has decided to take an enabling provision to raise additional equity capital via a follow on public issue, rights issue or private placement, including a possible qualified institutional placement (QIP) issue.

As many as three firms, including State Bank of Travancore and Zee Media Corp, approached market regulator Securities and Exchange Board of India (SEBI) in January to raise nearly Rs.700 crore through rights issue.

Apart from these two firms, Everlon Synthetics has also filed draft papers with SEBI to mop up funds by issuing equity shares to existing shareholders.

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