State Bank of India said that its board will meet on Monday, 21 June 2021, to consider raising additional tier-1 (AT-1) capital through issuance of Basel III compliant debt instrument in USD and/or INR.
The AT-1 bond would be issued through a public offer or private placement to overseas and/or Indian investors during FY22, SBI said.
SBI is an Indian multinational, public sector banking and financial services statutory body. As of 31 March 2021, the Government of India held 57.63% stake while Life Insurance Corporation of India held 9.25% stake in the bank.
India's largest public sector bank reported an 80% jump in standalone net profit to Rs 6,450.75 crore on a 7% rise in total income to Rs 81,326.96 crore in Q4 FY21 over Q4 FY20.
The scrip shed 0.66% to currently trade at Rs 423.05 on the BSE.
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