State Bank of India (SBI), the country’s largest lender, has successfully raised Rs 10,000 crore through long-term infrastructure bonds. The issue, which saw strong demand, will be used primarily to fund infrastructure projects across India. These bonds have a tenure of 10 years and are aimed at supporting the government’s ambitious infrastructure development plans.
Source:- BBC news
The issue was oversubscribed, reflecting robust investor confidence in SBI’s creditworthiness and the growth prospects of India’s infrastructure sector. The bank received bids exceeding Rs 25,000 crore against the base issue size of Rs 5,000 crore, leading to the final issue size of Rs 10,000 crore.
Source:- India today
The raised funds will help SBI in bolstering its long-term resources for lending to the infrastructure sector, which is a key focus area for the bank. This move aligns with the government’s emphasis on building world-class infrastructure to drive economic growth. The infrastructure bonds issued by SBI are expected to finance projects in sectors such as transportation, energy, and urban development, thereby contributing to the nation’s economic progress and development.
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