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SBI Cards share rises over 2% on plan to raise Rs 2,000 crore via debt
SBI Cards share touched an intraday high of Rs 1,090, rising 2.2% against previous close of Rs 1066.55 on BSE
BusinessToday.In | March 9, 2021 | Updated 11:25 IST
SBI Cards share trades higher than 20 day, 50 day, 100 day and 200 day moving averages but lower than 5 day moving averages.
Share price of SBI Cards and Payments Services gained over 2% in early trade after the firm said it plans to raise up to Rs 2,000 crore through the issuance of debt securities in one or more tranches. The company s board will take a final call on the proposal in its meeting on March 12.
SBI Cards to raise up to $266.6m through issuance of debt securities
India Gate. Photo: Abhidev Vaishnav/unsplash
March 9, 2021
SBI Cards and Payment Services Ltd (SBI Card) on Monday said it plans to raise up to ₹2,000 crore through the issuance of debt securities in one or more tranches.
A meeting of the board of directors of the company is scheduled to be held on Friday (March 12) to consider and approve raising of funds by way of issuance of non-convertible debentures, aggregating to ₹2,000 crore, SBI Card said in a regulatory filing.
The funds will be raised in one or more tranches over a period of time, it said.
SBI Card raises Rs 450 crore through non-convertible debentures
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Last Updated: Dec 22, 2020, 06:48 PM IST
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The tenure of the debt instruments is five years with the date of maturity as December 22, 2025.
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The bonds bear coupon rate of 6 per cent per annum, SBI Card said.
SBI Cards and Payment Services Ltd (SBI Card) has raised Rs 450 crore by issuing bonds on a private placement basis, the company said on Tuesday.
The stakeholder relationship committee of the company has approved the allotment of 4,500 fixed rate, unsecured, rated, taxable, redeemable, senior, non-convertible debentures (NCDs) of the face value of Rs 10 lakh each aggregating to Rs 450 crore on a private placement basis, SBI Card said in a regulatory filing.