India, June 18 -- State Bank of India has approved a proposal to raise up to Rs 60,000 crore during FY27 through the issuance of various debt instruments.
The fundraising will be undertaken in Indian rupees and/or other convertible currencies through instruments such as long-term bonds, Basel III-compliant Additional Tier 1 (AT1) bonds, and Basel III-compliant Tier 2 bonds.
According to the bank, the capital may be raised through public issues or private placements and will be offered to both domestic and overseas investors during the current financial year.
The proposed fundraising is aimed at supporting the bank's business growth plans, strengthening its capital base, and meeting regulatory capital requirements. SBI said the issuance w...