Shares of State Bank of India (SBI)
were trading 1.5% up on Tuesday as the bank is planning to raise up to $1.25bn by issuing bond.
Accordingly, the Executive Committee of Central Board of the Bank in a meeting scheduled to be held on December 12 will consider a proposal for "a long term fund raising in single/multiple tranches upto $1.25bn through a public offer and/or private placement of senior unsecured notes in the US dollar or any other convertible currency during January to March, 2019," the lender said in a press note to the exchanges on Monday after market hours.
State Bank of India's share price is currently at Rs275.85, up by Rs2.45 or 0.9% from its previous closing of Rs273.40 on the BSE.
The scrip opened at Rs269 and has touched a high and low of Rs278.60 and Rs267.30, respectively. So far, 81,72,533 (NSE+BSE) shares have been traded on the counter. The current market cap of the company is Rs2,43,998.22cr.