SBI to raise 10,000 crore that is 1.5 billion USD from market
|SBI to raise funds from the market, source via - google search, business news.|
SBI which is one of the largest banks in India has said that it will raise over 10000 crore that is 1.5 billion US dollars for long-term capital by issuing bonds or other convertible currency.
SBI said in a BSE filing that the decision is the outcome of the executive committee meeting of the Board today.
The executive committee in a meeting held recently have approved to raise long-term funds up to USD 1500 million.
The fundraising will be through a public offer or private placements of senior unsecured notes in US dollar.
It is also said that if any other convertible currency is possible rather than this they can also consider it an option.
SBI stock was trading 0.72 per cent higher at Rs 217.85 on BSE.