SBI Cards hits 52-week high as it raises Rs 500 crore via debt instruments

he debentures offer coupon rate of 5.75 per cent and will mature on November 17, 2023

Shares of SBI Cards and Payment Services hit fresh 52-week high, up 1.4 per cent, at Rs 815 on the BSE on Tuesday after the State Bank of India subsidiary raised Rs 500 crore via debt instruments.

"The company has approved the allotment of 5,000 Fixed Rate, Unsecured, Rated, Taxable, Redeemable, Senior, Non-Convertible Debentures ("NCDs") of the face value of Rs 1,000,000 each, at par, under Series 21, aggregating to Rs 500 crores on private placement basis," it said in a regulatory filing. READ HERE

The debentures offer coupon rate of 5.75 per cent and will mature on November