State Bank of India: The country’s largest bank SBI is going to raise $3 billion through debt in the financial year 2025. The public sector State Bank of India has revealed its plan on Tuesday. The bank’s board has approved this plan. However, the bank has not given any information about where it will use this money. SBI shares have seen a jump on Tuesday.
SBI gave information in exchange filing
According to SBI’s exchange filing, $3 billion will be raised through debt in the current financial year. To raise this fund, the bank can adopt the route of public offer or private placement of senior unsecured notes. According to the bank, these notes will be in US dollars or other major foreign currencies. According to the bank, the board has approved raising this money in a meeting held under the rules of market regulator SEBI.
Other banks are also preparing to meet the loan demand
The demand for loans in India is increasing very fast. Due to this, all Indian banks including SBI are constantly taking steps to increase their capital. Market experts have described this step of SBI as a decision taken in the same direction. Apart from SBI, government-owned Canara Bank (Canara Bank), Punjab & Sind Bank (Punjab and Sind Bank) and Punjab National Bank (Punjab National Bank) is also planning to raise funds through debt in the current financial year.
SBI chairman had already given indications
SBI had also raised Rs 50 billion ($ 600 million) in January. For this, the bank had issued Basel 3 based Tier 1 Perpetual Bonds (Perpetual Bonds) were issued. SBI Chairman Dinesh Kumar Khara (Dinesh Kumar Khara) had said last month that the bank is considering raising equity capital to meet its objectives. On Tuesday, SBI shares jumped by about Rs 3 to trade around Rs 835 on NSE.
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