State Bank of India raises Rs. 3,000 crore via bond issue

The bank issued 30,000, Basel III compliant, Tier-ll bonds in the nature of debentures, of face value of Rs.10,00,000/- each at par, with 10 year tenure, bearing 8.45% p.a. coupon and with call option after 5 years, aggregating to Rs.3,000 crore on a private placement basis.

State Bank of India has informed the BSE that the bank, on February 18, issued 30,000, Basel III compliant, Tier-ll bonds in the nature of debentures, of face value of Rs.10,00,000/- each at par, with 10 year tenure, bearing 8.45% p.a. coupon and with call option after 5 years, aggregating to Rs.3,000 crores on private placement basis.

Stock view:

State Bank of India is currently trading at Rs. 161.5, up by Rs. 1.95 or 1.22% from its previous closing of Rs. 159.55 on the BSE.

The scrip opened at Rs. 158.3 and has touched a high and low of Rs. 162.8 and Rs. 157 respectively. So far 4507659(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs. 123855.11 crore.

The BSE group 'A' stock of face value Rs. 1 has touched a 52 week high of Rs. 315.8 on 04-Mar-2015 and a 52 week low of Rs. 148.3 on 12-Feb-2016. Last one week high and low of the scrip stood at Rs. 171 and Rs. 148.3 respectively.

The promoters holding in the company stood at 60.18 % while Institutions and Non-Institutions held 28.55 % and 9.32 % respectively.

The stock is currently trading above its 200 DMA.