State Bank of India, in a post-market-hours disclosure on Monday, said that its board has approved fund-raising plans. The board has authorised the bank to raise up to Rs.12,000 crore through issue of Basel-III compliant Tier-II bonds at par, via private placement.
The public sector banking major will decide on the number of tranche(s), timing and coupon rate of the issue. Analysts will closely track the development.
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