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State Bank of India jumps on planning to raise long term fund

State Bank of India jumps on planning to raise long term fund

State Bank of India is currently trading at Rs. 357.90, up by 5.00 points or 1.42% from its previous closing of Rs. 352.90 on the BSE.

The scrip opened at Rs. 355.45 and has touched a high and low of Rs. 358.50 and Rs. 355.45 respectively. So far 128755 shares were traded on the counter.

The BSE group ‘A’ stock of face value Rs. 1 has touched a 52 week high of Rs. 426.45 on 18-Feb-2021 and a 52 week low of Rs. 149.55 on 22-May-2020.

Last one week high and low of the scrip stood at Rs. 354.80 and Rs. 323.80 respectively. The current market cap of the company is Rs. 314949.54 crore.

The promoters holding in the company stood at 57.63%, while Institutions and Non-Institutions held 34.54% and 7.83% respectively.

State Bank of India (SBI) is planning to raise long term fund in single / multiple tranches up to $ 2 Billion under Reg-S/144A, through a public offer and / or private placement of senior unsecured notes in US Dollar or any other convertible currency during FY 2021 – 22. Executive Committee of the Central Board is scheduled to have a meeting on April 28, 2021 to consider the same.

SBI is the country’s largest lender and it offers a wide range of services in the Personal Banking, Agriculture/ Rural, NRI services, SME and Corporate Banking etc.