State Bank of India to Raise Up to Rs 60,000 Crore This Fiscal
En resumen
- State Bank of India's central board approved raising up to Rs 60,000 crore this fiscal via rupee and dollar bonds to bolster capital and support business growth.
- Funds will be raised through various debt instruments from Indian and overseas investors.
Resumen generado por IA
Por qué importa
State Bank of India's central board approved proposals to raise up to Rs 60,000 crore this fiscal through rupee and dollar bonds. This move is intended to bolster the bank's capital position and support business growth.
Kolkata: The central board of State Bank of India on Thursday approved proposals to raise up to Rs 60000 crore this fiscal through rupee and dollar bonds.
The country's largest lender with a loan portfolio of Rs 49.33 lakh crore said in a regulatory filing that the funds would be mobilised through a combination of debt instruments such as long term bonds, additional tier 1 Bonds, tier 2 bonds among others through public offer or private placement mode to Indian and overseas investors.
The fund raising exercise is aimed at bolstering the bank's capital position and supporting business growth. It reported a 17% advance portfolio growth last fiscal while its capital adequacy ratio stood at 15.4% at the end of March with the tier 2 capital at 2.07%.
The exercise will be subject to the government's approval wherever required.
Last year, the bank raised Rs 13551 crore in tier 2 bonds in two different tranches.
It also raised Rs 25,000 crore through a QIP, which is the largest ever in the history of the Indian capital market.
Preguntas abiertas
- What specific debt instruments will be prioritized?
- What is the expected timeline for the fund raising?
