SBI Card to raise Rs 3,000 cr via NCDs

SBI Card on Monday said it would raise up to Rs 3,000 crore by issuing non-convertible debentures to fund business growth.

The board approved the raising of funds by way of issuance of non-convertible debentures (NCDs), aggregating to Rs 3,000 cores in one or more tranches, SBI Card said in a regulatory filing.

This fundraising would be done through private placement in one or more tranches over a period of time, it added.