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07-Sep2016

SBI gains on raising Rs 2,100 crore through perpetual bonds

State Bank of India (SBI) is currently trading at Rs. 261.35, up by 1.90 points or 0.73% from its previous closing of Rs. 259.45 on the BSE.

The scrip opened at Rs. 262.45 and has touched a high and low of Rs. 263.85 and Rs. 260.40 respectively. So far 637262 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 1 has touched a 52 week high of Rs. 263.85 on 07-Sep-2016 and a 52 week low of Rs. 148.30 on 12-Feb-2016.

Last one week high and low of the scrip stood at Rs. 263.85 and Rs. 251.00 respectively. The current market cap of the company is Rs. 203229.50 crore.

The promoters holding in the company stood at 60.17%, while institutions and non-institutions held 28.33% and 9.66% respectively.

In order to boost its capital base as well as business growth, SBI has raised Rs 2,100 crore through perpetual bonds. The bank has issued and allotted 21,000 AT1 Basel III compliant Non- convertible, Perpetual, Subordinated, Unsecured Debt instrument in the nature of debenture, of face value Rs 1,000,000 each at par through private placement bearing coupon at 9 percent p.a. payable annually with call option after 5 years or any coupon payment date thereafter aggregating to Rs 2100 crore in first tranche, to Yes Bank.

SBI has reported 31.73% fall in its net profit at Rs 2520.96 crore for the quarter ended June 30, 2016 as compared to Rs 3692.43 crore for the same quarter in the previous year. However, total income of the bank increased by 9.38% to Rs 48928.60 crore for the quarter under review from Rs 44730.87 crore for the corresponding quarter of the previous year.


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