The board of the PSU lender is scheduled to meet on 28 April 2021 to consider long term fund raising of up to $2 billion.
The executive committee of the central board will decide on long term fund raising in single/multiple tranches of up to $2 billion, through a public offer/private placement of senior unsecured notes in US Dollar or any other convertible currency during FY 2021-22.Shares of State Bank of India (SBI) rose 2.48% to Rs 352.90 on Tuesday.
SBI is an Indian multinational, public sector banking and financial services statutory body. As of 31 March 2021, the Government of India held 57.63% stake while Life Insurance Corporation of India held 9.25% stake in the bank.
SBI's net profit fell 6.9% to Rs 5,196.22 crore on 1.1% decrease in total income to Rs 75,980.65 crore in Q3 FY21 over Q3 FY20.
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