State Bank of India has invited applications from merchant bankers for the proposed follow-on public offer and institutional placement in the current fiscal.

The proposed FPO and qualified institutional placement follows the merger of five associate banks and Bharatiya Mahila Bank with SBI from April.

The country’s largest public sector bank has already taken board approval for raising up to ₹15,000 crore through a public offer and overseas issuance of shares during the current fiscal.