SBI Cards and Payment Services Ltd to raise Rs. 500 crores through NCDs

The Stakeholders' Relationship and Customer Experience Committee of SBI Cards and Payment Services Limited has approved the allotment of 5000 Fixed Rate, Unsecured, Rated, Taxable, Redeemable, Senior, Listed Non-Convertible Debentures ("NCDs") of the face value of Rs. 10,00,000 each, at par, under Series 31 aggregating to Rs. 500 crores on private placement basis.

The issue size of Rs. 500 crores includes issue size of Rs. 300 crores with an option to retain oversubscription upto Rs. 200 crores.

The coupon / interest offered is 7.39% p.a.

Source : Equity Bulls

Keywords

SBICardsandPaymentServices NCDs FundRaising PrivatePlacement