HomeNewsBusinessBanksSBI approves raising up to Rs 20,000 crore for FY25 via long-term bonds
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SBI approves raising up to Rs 20,000 crore for FY25 via long-term bonds

Earlier this month, SBI raised $100 million through its London branch by selling three-year senior unsecured floating-rate bonds

June 19, 2024 / 13:54 IST
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State Bank of India
State Bank of India

India's largest public sector lender, State Bank of India, on June 19 said that its board has approved raising long-term bonds up to an amount of Rs 20,000 crore through a public issue or private placement during FY25.

"...submit that the Central Board at its meeting held today i.e. 19th June 2024 has, inter alia, accorded approval for raising long term bonds up to an amount of Rs. 20,000 crore through a public issue or private placement, during FY25," SBI said in a regulatory filing.

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Shares of SBI were trading 0.22 percent higher at Rs 846.45 apiece on BSE around 13:15 hours IST.

In January, SBI raised Rs 5,000 crore through perpetual bonds at an 8.34 per cent coupon. Last financial year, it raised an aggregate of Rs 20,000 crore through the sale of 15-year infrastructure bonds.