State Bank of India Plans Major Fundraising Through Perpetual Bonds

In a strategic move to bolster its capital base, the State Bank of India (SBI) aims to raise ₹50 billion (approximately $573 million) through Basel III-compliant additional Tier-I perpetual bonds by the end of February. This issuance marks the first of its kind from any lender in over three months, with potential participation from insurance companies and mutual funds. SBI's previous bond issue in October raised ₹50 billion at a 7.98% coupon rate, reflecting strong investor interest. This latest initiative underscores SBI's commitment to maintaining robust capital reserves amid growing loan demands.

 

Source: Market Screener