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SBI Cards To Raise Rs 2,500 Crore Via Non-Convertible Debentures

Shares of SBI Cards and Payment Services closed at Rs 773.95 apiece, up 0.09 per cent on the BSE

SBI Cards and Payment Services (SBI Card) on Monday said its board has approved a proposal to raise Rs 2,500 crore by issuing non-convertible debentures (NCDs) to fund business growth.

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The fund would be raised in one or more tranches, SBI Card said in a regulatory filing.

The NCD issuance would be done on a private placement basis, it added. 

Shares of SBI Cards and Payment Services closed at Rs 773.95 apiece, up 0.09 per cent on the BSE.
 

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