SBI raises ₹15,000 cr via Basel III bonds in a month
In less than a month, State Bank of India raised a total of ₹15,000 crore through issuance of Tier-2 bonds in two equal tranches.
In less than a month, State Bank of India raised a total of ₹15,000 crore through issuance of Tier-2 bonds in two equal tranches.
State Bank of India shares gained as much as 6.4% to hit a record high of ₹718.80 intraday today, while the m-cap surged to ₹6.36 lakh crore.
The issue was oversubscribed almost 4 times with bids of ₹15,907 crore against the base issue size of ₹4,000 crore, said SBI.
SBI shares ended 2.94% lower at ₹573.25 on the BSE amid surge in selling activities post Q1 results.
The shares of SBI rose over 2% in intraday trade on Friday after the PSU bank reported 83% jump in net profit.
The board of the PSU lender is scheduled to meet on April 18 to consider the fundraising proposal.
Most brokerages have assigned “Buy” ratings to SBI shares after Q3 results, with a potential upside of 28% from the current market price.
Fundraising also includes a greenshoe option of ₹5,000 cr. SBI stock rises to an intra-day high of ₹613.50.
SBI Q1 profit dropped 6.7% YoY to ₹6,068 cr as losses in treasury portfolio impacted state-owned bank’s non-interest income