SBI Board Meeting on Nov 29: Seek Approval For Raising Funds, Details

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SBI Board Meeting on Nov 29: Seek Approval For Raising Funds, Details

By Malvika Gurung -- The country’s largest lender State Bank of India (NS: SBI ) will be under focus on Tuesday as its board will conduct a meeting on the day for consideration of fundraising by issuing infrastructure bonds.

As per the intimation to domestic bourses, the public sector lender informed that the Executive Committee of its central board will hold a meeting on Nov 29, 2022, to consider and seek approval for raising Infrastructure Bonds of an amount no more than Rs 10,000 crore, along with a green shoe option of Rs 5,000 crore.

The approval for infrastructure bonds up to Rs 10,000 crore will be conducted through a public issue or private placement during FY23.

On Saturday, the state-owned lending behemoth’s chairman Dinesh Khara said that SBI posted the highest-ever profits recorded by any corporate house, asserting the analysts and broking houses praising the lender’s financial performance.

To mention a few brokerages, Motilal Oswal (NS: MOFS ) Securities said that SBI is in a ‘cruising mood’, while ICICI Securities (NS: ICCI ) sees SBI ‘firing on all cylinders’.

Read Also: SBI Chairman on the Bank’s Record High Profit & Broking Houses’ Praises

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