SBI shares slip after lender announces to raise Rs 10,000 crore via infra bond issuance
The bank also announced on Friday that it was selling shares in Rajshree Sugars and Chemicals Ltd., and MSP Steel & Power Limited.
SBI Share Price: Shares of SBI ended the trade session on Monday (September 25) down 0.61 per cent, or Rs 3.65, at Rs 594.45, in the first session after the biggest lender in India announced that it was raising Rs 10,000 crore via infrastructure bond issuance.
Opening at Rs 600.05, the share touched the day's high of Rs 601.70 in early morning deals before falling into the negative terriroty.
"State Bank of India (SBI), the country’s largest lender, raised Rs. 10,000 crores today at a coupon rate of 7.49% through its fourth infrastructure bond issuance.
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The issue attracted an overwhelming response from investors with bids of Rs. 21045.10 crores and was oversubscribed by more than 5 times against the base issue size of Rs. 4,000 crores," the bank said in a statement on Friday (September 22).
Based on the response, the bank has decided to accept Rs. 10,000 crore at a coupon rate of 7.49 per cent payable annually, the bank said, adding, "This represents a spread of 12 bps over the corresponding FBIL G-Sec par curve."
The bank also announced on Friday that it was selling shares in Rajshree Sugars and Chemicals Ltd. and MSP Steel & Power Limited, respectively.
SBI stock history
The bank's stock has been at a deficit of 1.50 per cent in the last five trading sessions, but in contrast, it has jumped 3.78 per cent in the last one month.
Its shares have soared 16.56 per cent in the last six months, but they have slid 2.91 per cent year-to-date.
Their rise rise in the last one year has been 9.31 per cent.
The benchmark Nifty 50 is down 2.37 per cent in the last five trading sessions, has gained 1.91 per cent in the last one month, soared 15.83 per cent in the last six months, has been up 8.12 per cent year-to-date, and has skyrocketed 15.62 per cent in the last one year.