 "SBI Card to raise Rs 2,000 cr by issuing bonds on private placement basis")
SBI Cards and Payment Services (SBI Card) on Monday said it will raise Rs 2,000 crore by issuing bonds on a private placement basis.
"The board of directors of the company has approved, raising of funds by way of issuance of non-convertible debentures (NCDs), aggregating to Rs 2,000 crore," SBI Card said in a regulatory filing.
The money will be raised in one or more tranches, and the said issuance will be done on a private placement basis, it added.
The company's stock was trading at Rs 1,104 on BSE, down 1.45 per cent from the previous close.
(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)