SBI to raise up to Rs 5,000 crore through debt instruments in FY21

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State Bank of India on Wednesday said it will raise up to Rs 5,000 crore through debt instruments in the current financial year.

The central board of the bank in a meeting held on Wednesday accorded the approval for raising of capital by way of issuance of Basel-III compliant debt instruments in Indian rupees during FY21, SBI said in a regulatory filing.

The board said it has approved "raising of additional tier-I (AT1) bonds to the extent of Rs 5,000 crore by way of issuance of Basel-III compliant debt instruments in INR, within the overall capital plan earlier approved by the board for raising equity during FY21,” SBI said.

The issuance of the additional tier-I bonds will be subject to regulatory and government approvals, it any, it added.

Shares of SBI settled at Rs 185.40 apiece on BSE, up 0.22 percent over previous close.