SBI trades marginally higher on raising Rs 7,500 crore through bonds
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State Bank Of India is currently trading at Rs. 794.35, up by 2.00 points or 0.25% from its previous closing of Rs. 792.35 on the BSE.
The scrip opened at Rs. 794.15 and has touched a high and low of Rs. 801.25 and Rs. 793.00 respectively. So far 114525 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 1 has touched a 52 week high of Rs. 912.10 on 03-Jun-2024 and a 52 week low of Rs. 543.15 on 26-Oct-2023.
Last one week high and low of the scrip stood at Rs. 801.25 and Rs. 780.65 respectively. The current market cap of the company is Rs. 708614.23 crore.
The promoters holding in the company stood at 57.54%, while Institutions and Non-Institutions held 34.80% and 7.67% respectively.
State Bank of India (SBI) has raised Rs 7,500 crore at a coupon rate of 7.33% through its second Basel III compliant Tier 2 bond issuance for the current financial year. The bonds are issued for a tenor of 15 years, with call option after 10 years and each anniversary dates thereafter and are rated ‘AAA’ with stable outlook from CRISIL Ratings and CARE Ratings.
The issue attracted an overwhelming response from investors with bids in excess of 3 times against the base issue size of Rs 4,000 crore. The total number of bids received was 77 indicating participation from diverse set of qualified institutional bidders. The investors were across provident funds, pension funds, mutual funds, banks etc.
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.
