SBI Hits Milestone with Rs 50,000 Crore Fundraise through Bonds

State Bank of India raised Rs 50,000 crore in the current financial year through bond issuances, including infrastructure bonds, AT1 Bonds, Tier 2 Bonds, and Long Term Bonds. The fundraising efforts demonstrated strong investor trust, with issues oversubscribed over twofold.

State Bank of India, the country's leading lender, has successfully raised a substantial Rs 50,000 crore in the current financial year, marking a significant milestone in its fundraising endeavors. This achievement was facilitated through the issuance of various bonds, including infrastructure bonds earlier this month, where Rs 10,000 crore was secured in its seventh round.

In addition to infrastructure bonds, SBI has raised Rs 5,000 crore via Additional Tier 1 Bonds, Rs 15,000 crore through Tier 2 Bonds, and Rs 30,000 crore from Long Term Bonds. The bank reported that the bond issues were met with overwhelming investor interest, evidenced by an oversubscription rate of over two times the initial base size.

According to SBI Chairman CS Setty, the diversity and volume of investor bids underscore the widespread confidence of various financial entities, including provident and pension funds, insurance firms, and mutual funds, in the bank's financial solidity. The 15-year tenor bonds, with the exception of perpetual AT1 Bonds, highlight SBI's strategic direction in securing long-term financial stability.

(With inputs from agencies.)