State Bank of Travancore to raise up to Rs 1,250 cr via bonds

State Bank of Travancore today said it will raise up to Rs 1,250 crore by issuing tier-II bonds.

"The Executive Committee of the Board of Directors of the Bank in its meeting held on December 28, 2015, has approved the raising of up to Rs 1,250 crore by way of issue of Basel III compliant Tier II Bonds," it said in a regulatory filing.

Shares of the bank today closed flat at Rs 407.15 apiece on the BSE.