India's largest lender
State Bank of India Ltd. has approved raising a sum of Rs 10,000 crore through a public issue or private placement of infrastructure bonds during the current financial year.
The bonds will also include a green shoe option of Rs 5,000 crore.
SBI had informed the exchanges of the board meeting to consider and approve raising infrastructure bonds on November 24.
Analysts are of the view that SBI, the biggest Indian lender by assets, will need to focus on converting savings into term deposits as banks in the country are under pressure to expand their deposit base while demand for loans rise.
Shares of SBI have gained nearly 30 percent this year and analysts tracking the bank expect potential upside of another 10-20 percent over the next 12 months.
First Published: Nov 29, 2022 2:51 PM IST