SBI board approves $2-billion fundraise via bonds for FY23 The board of State Bank of India (SBI) on Tuesday approved the bank’s proposal to raise up to $2 billion through debt securities in the international market in FY23. The approval applies to long-term fundraising in a single or multiple tranches under Reg-S/144A, through a public offer or private placement of senior unsecured notes in US dollar or any other convertible currency. SBI’s capital adequacy ratio (CAR) as at the end of Q3FY22 stood at 13.23%, with the tier-1 ratio at 10.91%. The bank’s shares ended at Rs 475.10 on the BSE on Tuesday, down 0.13% from their previous close.
Also Read: Zerodha’s Nikhil Kamath tells when to buy stocks, shares Buffett formula to find the right time
FII and DII trades: Foreign Institutional Investors (FII) have been net buyers of domestic stocks for successive days now. On Wednesday, FIIs pumped in Rs 2,347 crore. Domestic Institutional Investors (DII) have been net sellers, pulling out Rs 510 crore yesterday.
IPO watch: Syrma SGS Technology enters the final day of bidding today. So far the issue, that opened last week, has been subscribed 2.27 times. Retail investors have subscribed their portion 2.66 times while NIIs have bid for their quota 3.58 times and QIB portion has been bid for 0.71 times.