Mumbai: State Bank of India has raised Rs 2000 crore in perpetual bonds using the National Stock Exchange's electronic bidding platform for the first time.
The fresh capital will help the banking behemoth meet tier 1 capital requirement for the current financial year.
The issue was oversubscribed over five times. SBI received bids worth Rs 10,376 crore.
“It is a matter of pride for NSE, as we could provide a mechanism for single highest fund raise of around Rs 10,376 crores on EBP on a single day this year," NSE's chief executive Vikram Limaye was quoted as saying in a press statement.
The Electronic Bidding Platform (EBP) is an initiative by market regulator SEBI, mandated for private placement of debt issues by corporates.
"Digital initiatives in private placements segment by NSE, specifically NSE-EBP, have enabled us to broaden our access to the wider pool of investors and further deepen our debt markets,” SBI chief financial officer Prashant Kumar said.
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