State Bank Of India

State Bank of India (SBI) has raised Rs 10,000 crore through its fifth infrastructure bonds issuance. The Bank has raised the funds at a coupon rate of 7.36 percent.

The issue attracted overwhelming response from investors with bids in excess of Rs 19,884 crore and was oversubscribed by around four times against the base issue size of Rs 5,000 crore. The total number of bids received was 143, indicating wider participation with heterogeneity of bids. 

The proceeds of bonds will be utilized in enhancing long-term resources for funding infrastructure and affordable housing segments. 

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.