In an exchange filing on Thursday post-market hours it said that the board has approved raising fresh AT1 capital up to Rs4,000cr, subject to the government of India’s concurrence.
Also, the board gave the approval to raise fresh tier-II capital up to Rs10,000cr.
It will redeem existing tier-II bonds of Rs11,015cr that have call dates during the current financial year FY21. It will replace them by raising fresh tier-II capital bonds of same amount. This would be over and above Rs10,000cr worth tier-II capital bonds for which board has given approval, the bank said.
State Bank of India is currently trading at Rs184.60 up by Rs0.75 or 0.41% from its previous closing of Rs183.85 on the BSE. The scrip opened at Rs185 and has touched a high and low of Rs185.95 and Rs181.60 respectively.