SBI to raise TIER II Capital through Public Issue of Bonds

State Bank of India has announced that the Executive Committee of the Central Board of the Bank has accorded approval for raising Tier II Capital by way of Public Issue of Lower Tier-II Bonds for an amount of Rs. 500 crores with an option to retain 100% oversubscription (green shoe option).

The stock was trading at Rs.2835.55, down by Rs.23.20 or 0.81%. The stock hit an intraday high of Rs.2865 and low of Rs.2824.

The total traded quantity was 2.01 lakhs compared to 2 week average of 3.23 lakhs.

Source : Equity Bulls

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