SBI to raise up to Rs 11,000 crore via debt securities

Country's largest lender State Bank of India (SBI) said on Wednesday it will raise up to Rs 11,000 crore through Basel III compliant debt instruments on a private placement basis.

The bank has informed the BSE that "the Committee of Directors for Capital Raising at its meeting held on August 24, 2016 authorised the bank to raise up to Rs 11,100 crore additional tier 1 capital, by way of issue of Basel III compliant perpetual debt instrument in USD and/or INR, at par, through private placement to overseas and/or Indian investors".

Shares of SBI were trading 0.08 per cent higher at Rs 254.80 per scrip on the BSE.