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State Bank of India, the country’s largest lender by assets, approved raising of up to 200 billion Indian rupees ($2.33 billion) through bonds on Wednesday.
The lender said it will raise funds via issuance of Basel III compliant bonds to domestic investors during fiscal year 2026.
State Bank of India to plan $2.9bn share sale as soon as next week
Earlier in the day, news channel CNBC TV18 reported, citing sources, that SBI was also set to launch its 250 billion rupees share sale via qualified institutional placement on Wednesday.
Shares of the lender were up 1.7%.
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