SBI considers raising $3 billion in funding for FY2025 – Specifics
The biggest lender in the nation, State Bank of India, has announced that a proposal for fundraising will be discussed at a board meeting later this month. The information was provided by the state-run bank through an exchange filing.
As to the company's statement on BSE, the bank intends to raise $3 billion in funding for the 2024–25 fiscal year. On June 11, the board of the bank will convene.
Through a public offering or private placement of senior unsecured notes in US dollars or any other convertible currency throughout FY2-24-25, the funding will be completed in one or more tranches.
"To examine the status and decide on long-term fundraising in single/multiple tranches of up to US$ 3 Billion (US$ Three Billion) under Reg-S/144A, through a public offer and private placement of senior unsecured notes in US Dollar or any other major foreign currency during FY 2024-25," the PSB stated in a filing.
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