State Bank of India to raise upto Rs. 11100 crores

The Committee of Directors for Capital Raising at its meeting held on August 24, 2016 authorized State Bank of India to raise upto Rs. 11,100 crore (Rupees eleven thousand one hundred crore only) Additional Tier 1 capital, by way of issue of Basel III compliant Perpetual Debt instrument in USD and / or INR, at par, through private placement to overseas and / or Indian investors, 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 the time of actual issuance.

Shares of STATE BANK OF INDIA was last trading in BSE at Rs.254.65 as compared to the previous close of Rs. 254.6. The total number of shares traded during the day was 1178370 in over 9140 trades.

The stock hit an intraday high of Rs. 256.05 and intraday low of 253.55. The net turnover during the day was Rs. 300130087.

Source : Equity Bulls

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