InvestorQ : Why is SBI planning to raise $1.5 billion in the market?
Tisha Malhotra made post

Why is SBI planning to raise $1.5 billion in the market?

Answer
user profile image
Moii Chavate answered.
3 months ago


The SBI board proposes to meet on June 11 to evaluate the pros and cons of raising funds up to $1.5 billion. This could be in single or multiple tranches but would mostly be a private placement of senior secured notes in US dollar or other hard convertible currencies. The idea is to shore up its balance sheet ahead as credit picks up post COVID-19. SBI may also have to contribute to the capital of Yes Bank and may also see a rise in NPAs, for which it needs a capital cushion.