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Hot Pursuit
29-Nov-22
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SBI board OKs raising Rs 10,000 cr via infrastructure bonds
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The state-run lender on Tuesday said that the executive committee of the bank's central board approved a proposal to raise Rs 10,000 crore through issue of infrastructure bonds during FY23.
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In an exchange filing, SBI stated, “Raising infrastructure bonds up to an amount of Rs 10,000 crore (including a green shoe option of Rs 5,000 crore) through a public issue or private placement, during FY23.”
State Bank of India (SBI) is an Indian multinational, public sector banking and financial services statutory body. As of 30 September 2022, the Government of India held 57.52% stake in the bank.
The PSU bank reported 73.93% jump in standalone net profit to Rs 13,264.52 crore on a 14.22% rise in total income to Rs 88,733.86 crore in Q2 FY23 over Q2 FY22.
Shares of State Bank of India rose 0.08% to Rs 609.20 on the BSE.
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