SBI raises ₹10,000 cr via infra bonds; here’s how stock reacted
Summary
This is the sixth infrastructure bond issuance by the public sector bank, which received an overwhelming response from investors as the bid was oversubscribed 3.6 times. With this issuance, the total outstanding long-term bonds issued by the bank stands at 59,718 crore. In the early trade, the banking heavyweight gained as much as 0.86% to 856.45, while the market capitalisation rose to 7.64 lakh crore.SBI shares touched a 52-week high of 912.10 on June 3, 2024, while it hit a 52-week low of 543.15 on October 26, 2023. The PSU bank has delivered 45% returns to its shareholders in the last one year, while it rallied nearly 38% in the past six months, thanks to improvement in credit matrix and robust financial performance. In the calendar year 2024, SBI share price moved up by 33%, while it added over 2% in the past one month.In an exchange filing last evening, SBI said that it raised 10,000 crore through senior unsecured long term bond issuance, which saw participation from investors across sectors such as provident funds, pension funds, insurance companies, mutual funds, corporates etc.