SBI board to consider raising up to $1.5 bn by issuing bonds this fiscal

State Bank of India (SBI), the country's largest lender, on Thursday said its board will consider raising up to $1.5 billion by issuing bonds during the current financial year.

"The executive committee of the central board in its meeting held today (Thursday), on June 11, 2020, inter alia approved to examine the status and decide on long-term fundraising in single or multiple tranches up to $1.5 billion," it said in a regulatory filing.

SBI said the capital is proposed to be raised through public and/or private placement of senior unsecured notes in US dollar or any other convertible currency during 2020-21.

Last week, SBI said it is considering to raise up to $1.5 billion (about Rs 11,330 crore) through a public offer and/or private placement of bonds.

Earlier, in November, SBI raised Rs 3,813.60 crore through perpetual bonds to fund its business growth.

Shares of SBI on Thursday ended 5.64 per cent down to Rs177.20apeice on the BSE.