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SBI gains on raising Rs 3,813 crore via perpetual bonds

State Bank of India (SBI) is currently trading at Rs. 332.00, up by 2.85 points or 0.87% from its previous closing of Rs. 329.15 on the BSE.

The scrip opened at Rs. 330.00 and has touched a high and low of Rs. 331.90 and Rs. 328.50 respectively. So far 223757 shares were traded on the counter.

The BSE group ‘A’ stock of face value Rs. 1 has touched a 52 week high of Rs. 373.70 on 18-Jul-2019 and a 52 week low of Rs. 244.35 on 09-Oct-2019.

Last one week high and low of the scrip stood at Rs. 333.70 and Rs. 322.20 respectively. The current market cap of the company is Rs. 294869.17 crore.

The promoters holding in the company stood at 57.88%, while Institutions and Non-Institutions held 35.23% and 6.89% respectively.

State Bank of India (SBI) has raised Rs 3,813.60 crore through perpetual bonds to fund its business growth. The Committee of Directors for capital raising has accorded approval for allotment of 38,136 non-convertible, taxable, subordinated, unsecured Basel III compliant AT1 bonds in the nature of debentures of face value of Rs 10 lakh each. It will bear coupon rate of 8.50 per cent with call option after 5 years or any anniversary date thereafter, aggregating to Rs 3,813.60 crore to the bond subscribers.

SBI is the country’s largest lender and it offers a wide range of services in the Personal Banking, Agriculture/ Rural, NRI services, SME and Corporate Banking etc.

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