State Bank of India approves fund raising proposal to Rs. 12000 crores

The Committee of Directors of State Bank of India, duly authorized by the Board, in their meeting held on December 21, 2015, authorized the Bank to raise upto Rs. 12,000 crores (Rupees Twelve thousand crores), by way of issue of Basel III compliant Tier II bonds, at par, through private placement, in such number of tranche(s), at such time(s) as may be considered appropriate and on such coupon(s) as may be decided at time of actual issuance.

Shares of STATE BANK OF INDIA was last trading in BSE at Rs.230.35 as compared to the previous close of Rs. 226.65. The total number of shares traded during the day was 998240 in over 9610 trades.

The stock hit an intraday high of Rs. 230.95 and intraday low of 226.65. The net turnover during the day was Rs. 228911874.

Source : Equity Bulls

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