TIL Desk/Business/New Delhi/ Country’s largest lender State Bank of IndiaBSE -0.18 % plans to raise up to over Rs 12,600 crore by issuing bonds in US dollar or other convertible currency.
“The executive committee of the Central Board.. has approved long term fund-raising in single/multiple tranches up to Rs 12,600 crore,” State Bank of India (SBI) said in a regulatory filing.
It said the fund-raising will take place through a public offer and/or private placement of senior unsecured notes in US Dollar or any other convertible currency during fiscal 2017-18 and 2018-19. Shares of SBI were trading 0.44 per cent higher at Rs 307.55 on BSE.
