SBI plans to raise Rs 2,000 crore via Basel-III bonds

India’s largest lender State Bank of India plans to raise Rs 2,000 crore by allotting Basel-III compliant bonds to various investors. “The committee of directors for capital raising accorded its approval today to allot 20,000 AT1 Basel-III compliant non-convertible, perpetual, subordinated bonds in the nature of debentures… Aggregating Rs 2,000 crore to various investors,” State… Continue reading SBI plans to raise Rs 2,000 crore via Basel-III bonds

SBI Life Insurance files for IPO to raise Rs 7,000 crore

SBI Life Insurance, a joint venture (JV) between the State Bank of India (SBI) and BNP Paribas Cardif, filed its draft red herring prospectus with the Securities and Exchange Board of India (Sebi), the capital markets regulator, for an initial public offering (IPO) of equity shares, on Monday. The two JV partners are planning to… Continue reading SBI Life Insurance files for IPO to raise Rs 7,000 crore

SBI Life Insurance files for IPO to raise Rs 7,000 crore

SBI Life Insurance, a joint venture (JV) between the State Bank of India (SBI) and BNP Paribas Cardif, filed its draft red herring prospectus with the Securities and Exchange Board of India (Sebi), the capital markets regulator, for an initial public offering (IPO) of equity shares, on Monday. The two JV partners are planning to… Continue reading SBI Life Insurance files for IPO to raise Rs 7,000 crore

IDBI Bank to raise up to Rs 5,000 crore

Mumbai-based public sector lender IDBI Bank is seeking shareholders’ nod to raise equity capital of up to Rs 5,000 crore through various routes, including qualified institutional placement (QIP), to meet capital adequacy norms. In addition, the ailing bank will tap market to raise up to Rs 5,000 crore through infrastructure bonds and basel-III-compliant additional tier-I… Continue reading IDBI Bank to raise up to Rs 5,000 crore