SBI to raise up to Rs 5,000 cr through debt instruments in FY21

State Bank of India on Wednesday said it will raise up to Rs 5,000 crore through debt instruments in the current financial year.

The central board of the bank in a meeting held on Wednesday accorded the approval for raising of capital by way of issuance of Basel-III compliant debt instruments in Indian rupees during FY21, SBI said in a regulatory filing.

The board said it has approved “raising of additional tier-I (AT1) bonds to the extent of Rs 5,000 crore by way of issuance of Basel-III compliant debt instruments in INR, within the overall capital plan earlier approved by the board for raising equity during FY21,” SBI said.

The issuance of the additional tier-I bonds will be subject to regulatory and government approvals, it any, it added.

Shares of SBI settled at Rs 185.40 apiece on BSE, up 0.22 per cent over previous close.

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