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SBI board approves Rs 10,000-cr AT1 bonds offering to support biz growth

Bank intends to raise before Mar23 though approval is till 2024

State bank of india, SBI
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The capital raise could be through domestic as well as international markets

Abhijit Lele Mumbai
The country’s largest lender, State Bank of India (SBI), plans to raise up to Rs 10,000 crore through additional tier - 1 (AT1) bonds until March 2024, to support business growth.
 
SBI in a filing with the BSE said the central board of the bank at its meeting on Wednesday green-lit the fundraise via the Basel III-compliant debt instrument in rupee and/or any other convertible currency up to FY24. This fundraising would be subject to the Government of India's concurrence, SBI said.
 
According to SBI executives, the bank would look to raise this capital before March and the issuance would

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First Published: Dec 14 2022 | 8:46 PM IST

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