SBI shares gain 1% as NSE IPO opens for subscription

SBI shares gained 1% as the NSE IPO opened for subscription, with the bank offering 1.597 crore NSE shares through an OFS. The stake sale could fetch around ₹2,851 crore at the upper price of ₹1,785 per share. Jefferies expects SBI to sustain growth and profitability, with ROE above 15%. SBI is also looking to improve operating efficiency and scale up select segments.