State Bank of India (SBI), the country’s largest lender, is planning to raise Rs 10,000 crore worth of infrastructure bonds during the current financial year.
“We inform that a meeting of the Executive Committee of the Central Board of State Bank of India is scheduled to be held on Tuesday, 29th November, 2022 to consider inter alia…to seek approval for raising of Infrastructure Bonds up to an amount of Rs 10,000 crore through a public issue or private placement, during FY23,” the bank informed exchanges on Thursday.
The planned issuance worth Rs 10,000 crore includes a greenshoe option of Rs 5,000 crore, the bank said.
The infrastructure bonds are likely to be of 10-year tenure, sources told Business Standard.
“SBI is planning to raise 10-year infrastructure rated AAA from Icra and India Ratings for a quantum of Rs 5,000 crore, plus Rs 5,000 crore, totalling Rs 10,000 crore,” a source said.