Country's largest lender SBI on Monday said it plans to raise up to $1.25 billion (around Rs 9,069 crore) by issuing bonds through various modes. Bank's executive committee of central board meeting is scheduled to take place on Thursday to consider the proposal, SBI said in a regulatory filing.
The meeting will "examine the status and decide on long term fund raising in single/multiple tranches up to $1.25 billion through a public offer and/or private placement of senior unsecured notes in US dollar or any other convertible currency," SBI said.
The public sector lender said, the fund is planned to be raised during January to March, next year.
Shares of SBI closed 0.73 percent lower at Rs 273.40 apiece on the BSE.
First Published: IST