INSUBCONTINENT EXCLUSIVE:
SBI will consider raising capital through bond issueState Bank of India (SBI), on Friday informed the exchanges that the lender's board
will meet on 15 July to consider the prospect of raising capital through bonds
In a filing to the bourses, the country's largest bank said that the board will consider the proposal for Basel-III compliant bonds
The meeting is scheduled "to seek approval for raising of Additional Tier 1 (AT 1) and Tier 2 Capital by way of issuance of Basel lll
compliant debt instrument in USD and/or INR during FY 21," the filing statedThe markets however did not react favourably to the announcement
The SBI stock opened on a positive note and went up by 1.70 per cent to a day high of Rs 202.50
However, it witnessed a significant decline and finished 1.73 per cent in the red, with the shares priced at Rs 195.65 apiece at closing.The
