SBI Cards To Raise Up To Rs 2,000 Crore By Issuing Debt Securities

Funds will be raised in one or more tranches over a period of time.

08 Mar 2021, 06:27 PM IST

A customer uses an automated teller machine at a State Bank of India Ltd. branch in Bengaluru. (Photographer: Karen Dias/Bloomberg)

SBI Cards and Payment Services Ltd. on Monday said it plans to raise up to Rs 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 Rs 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.

Stocks of SBI Card were trading at Rs 1,068.15 apiece on BSE, up 0.93% from its previous close.