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SBI raises Rs 10,000 crore through bond issuance

18 Nov 2024 Evaluate

State Bank of India (SBI) has raised Rs 10,000 crore at a coupon rate of 7.23% through its seventh infrastructure bond issuance. The issue attracted overwhelming response from investors with bids in excess of Rs 11,500 crore and was oversubscribed in excess of 2 times against the base issue size of Rs 5,000 crore. The total number of bids received was 85 indicating wider participation with heterogeneity of bids. The investors were across provident funds, pension funds, insurance companies, mutual funds etc.

The proceeds of bonds will be utilized in enhancing long term resources for funding infrastructure and affordable housing segment. Based on the response, the Bank has decided to accept Rs 10,000 crore at a coupon rate of 7.23% payable annually for a tenor of 15 years. The instrument is rated AAA with stable outlook.

State Bank of India is the country’s largest lender and it offers a wide range of services in the Personal Banking, Agriculture/ Rural, NRI services, SME and Corporate Banking etc.


SBI Share Price

1080.35 12.85 (1.20%)
17-Apr-2026 16:59 View Price Chart
Peers
Company Name CMP
SBI 1080.35
PNB 114.50
Canara Bank 142.35
Bank Of Baroda 280.00
Union Bank Of India 188.90
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