Jan 02, 2014, 07.17 PM IST
The executive committee of the central board of the bank has approved allotment of Basel III compliant Tier 2 bonds of Rs 2,000 crore, SBI said in a filing to the BSE.
Tags State Bank of India, Basel III, Bonds, Preferential Issue
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SBI to raise Rs 2,000 cr from bonds
The executive committee of the central board of the bank has approved allotment of Basel III compliant Tier 2 bonds of Rs 2,000 crore, SBI said in a filing to the BSE.
Like this story, share it with millions of investors on M3
SBI to raise Rs 2,000 cr from bonds
The executive committee of the central board of the bank has approved allotment of Basel III compliant Tier 2 bonds of Rs 2,000 crore, SBI said in a filing to the BSE.
Also Read: SBI gets shareholders' nod for Rs 11,500-cr QIP
The bonds with tenure of 120 months (10 year bullet) carries a coupon 9.69 per cent, it said. The issuance of bonds would be by way of private placement, it said.
Besides, the meeting also approved the preferential issue of 1.12 lakh crore equity shares of Rs 10 each to the government up to Rs 2,000 crore. The bank has fixed an issue price of Rs 1,782.74 per share for a preferential stock allotment to the government as part of the capital infusion plan for this fiscal.
The SBI board had approved the preferential allotment in October. The additional funds will enable the bank to support national and international banking operations undertaken through its subsidiaries and associates.
Last fiscal, the government infused Rs 3,004 crore in the bank.
SBI stock price
On January 02, 2014, State Bank of India closed at Rs 1742.50, down Rs 22.8, or 1.29 percent. The 52-week high of the share was Rs 2550.00 and the 52-week low was Rs 1452.90.
The company's trailing 12-month (TTM) EPS was at Rs 179.98 per share as per the quarter ended September 2013. The stock's price-to-earnings (P/E) ratio was 9.68. The latest book value of the company is Rs 1445.60 per share. At current value, the price-to-book value of the company is 1.21.
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