State Bank of India (SBI) announced that it has raised Rs 4,544 crore through allotment of Basel III compliant AT-1 bonds in the nature of debentures.
These non-convertible, taxable, perpetual, subordinated, unsecured, fully paid up Basel III compliant AT- 1 bonds in the nature of debentures have a coupon rate of 8.20% p.a. The bonds are perpetual and there is no maturity date.The AT-1 bonds are proposed to be listed on Bombay Stock Exchange (BSE) and National Stock Exchange (NSE) of India.
State Bank of India (SBI) is an Indian multinational, public sector banking and financial services statutory body. As of 31 December 2022, the Government of India held 57.50% stake in the bank.
The PSU major reported 68.47% jump in standalone net profit to Rs 14,205.34 crore on a 25.18% rise in total income to Rs 98,083.77 crore in Q3 FY23 over Q3 FY22.
The scrip declined 1.41% to currently trade at Rs 515.85 on the BSE.
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