SBI to raise upto Rs.5000 Crores in 2006.2007

State Bank of India (SBI) has announced that the Executive Committee of the Central Board (ECCB) of the Bank at its meeting held on August 17, 2006, has approved the raising of unsecured and rated rupee Innovative Perpetual Debt Instruments / Upper Tier II / Lower Tier II Subordinated Debt by way of bonds, not exceeding Rs 50,000 million during the remaining part of Financial Year 2006-07, in tranches, with a minimum maturity period of over 60 months as per RBI guidelines, through structured deals or by Private Placement or Book building process.

Source : Equity Bulls

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