State Bank of India to raise $2 billion through overseas bonds in FY23; Stock surges near 2%

5 May 2022 , 09:20 AM

State Bank of India in a regulatory filing on Wednesday has informed that the Executive Committee of the Central Board is scheduled to have a meeting on May 10, 2022 to consider, inter alia, the following:

“To examine the status and decide on long term fund raising in single / multiple tranches up to US$ 2 Billion, through a public offer and / or private placement of senior unsecured notes in US Dollar or any other convertible currency during FY 2022 – 23.”

At around 9:21 AM, State Bank of India was trading at Rs487.80 per piece up by 1.71% against previous closing of Rs479.60 per piece on the BSE. The scrip opened at Rs488 per piece on Thursday during bullish market session.