SBI to raise Rs 11,000 crore capital from debt instruments, private placement

State Bank of India announced on Wednesday that it has been authorized to raise upto Rs 11,000 crore capital by way of issue of Basel III compliant Debt instruments or private placement basis.

"The Committee of Directors for Capital Raising at its meeting held on August 24, 2016 authorised the Bank to raise upto Rs 11,100 crore AAdditional Tier 1 capital, by way of issue of Basel III compliant Perpetual Debt instrument in USD and/or INR, at par, through private placement to overseas and/or Indian investors," the bank said in a filing to Bombay Stock Exchange.

The shares of the company closed up 0.02% at Rs 254.65.