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The proceeds of bonds will be utilized in enhancing long term resources for funding infrastructure and affordable housing segment. The bonds have a coupon rate of 7.54% and tenor of 15 years.
The issue attracted overwhelming response from investors with bids of Rs 21,698 crore and was oversubscribed by 4.34 times against the base issue size. The total number of bids received were 115 indicating wide participation. The investors were across provident funds, pension funds, insurance companies, mutual funds, corporates etc.
The bank has ‘AAA' credit rating with stable outlook from domestic credit rating agencies for these instruments.
State Bank of India (SBI) is an Indian multinational, public sector banking and financial services statutory body. As of 31 March 2023, the Government of India held 57.49% stake in the bank.
The largest PSU bank reported 83.18% surge in standalone net profit to Rs 16,695 crore on a 29.41% increase in total income to Rs 1,06,912.46 crore in Q4 FY23 over Q4 FY22.
The scrip declined 0.46% to currently trade at Rs 617.25 on the BSE.
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