SBI board approves to raise $2 billion through bonds in FY22; stock up 3%

So far in the current calendar year, the scrip has soared 28.3 per cent on the BSE compared with the Sensex's 2.4 per cent gain

Shares of State Bank of India jumped 3 per cent to Rs 364 apiece on the BSE on Wednesday after the bank's board approved to raise $2 billion through a public offer or private placement. In comparison, the benchmark S&P BSE Sensex was up 1.7 per cent at 2:00 PM.

"The Executive Committee of the Central Board in its meeting on 28th April, 2021 has approved to examine the status and decide on long term fund raising in single/multiple tranches up to $ 2 billion through a public offer and/or private placement of senior unsecured notes in US Dollar or any