SBI raises Rs 10K cr through bonds to fund infra projects

New Delhi, June 26

State Bank of India (SBI) today raised Rs 10,000 crore through its fifth infrastructure bond issuance. The country’s largest lender raised the funds at a coupon rate of 7.36 per cent.

The issue attracted overwhelming response from investors with bids in excess of Rs 19,884 crore and was oversubscribed by around four times against the base issue size of Rs 5,000 crore, SBI said in a regulatory filing.

The total number of bids received was 143, indicating wider participation with heterogeneity of bids, it said. The investors were across provident funds, pension funds, insurance companies, it said.

The bonds will be utilised in enhancing long-term resources for funding infrastructure and affordable housing segments, it said.