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State Bank of India ( (IN:SBIN) ) just unveiled an announcement.
State Bank of India has raised Rs 6,051 crore through the allotment of Basel III-compliant Tier 2 non-convertible, taxable, redeemable and unsecured bonds at a coupon of 7.05%. The bonds, with a 10-year tenure maturing on March 20, 2036, are proposed to be listed on both BSE and the National Stock Exchange and will pay interest annually.
This capital raise strengthens SBI’s Tier 2 capital base under Basel III norms, supporting its capacity for future loan growth and risk absorption. The successful single-day issue and planned dual exchange listing underscore continued investor appetite for the bank’s debt instruments and reinforce its standing as a key issuer in India’s domestic bond market.
More about State Bank of India
State Bank of India is India’s largest public sector bank, offering a wide range of retail and corporate banking services, treasury operations, and financial products across domestic and international markets. It plays a central role in the country’s financial system and capital markets, frequently tapping debt markets to support its balance sheet and regulatory capital needs.
Average Trading Volume: 989,925
Technical Sentiment Signal: Buy
Current Market Cap: 9682.5B INR
Learn more about SBIN stock on TipRanks’ Stock Analysis page.