SBI raises ₹7,500 crore via bond issue

Core Insights - State Bank of India (SBI) raised ₹7,500 crore through its Basel III compliant Tier 2 bond issuance at a coupon rate of 6.93% for the current financial year [1][3] - The bonds have a tenor of 10 years with a call option after five years and each anniversary date thereafter [1][3] Investor Response - The bond issue received an overwhelming response, with bids approximately three times the base issue size of ₹5,000 crore, totaling 101 bids from a diverse set of qualified institutional bidders [2] - Participation included various investors such as provident funds, pension funds, mutual funds, and banks, indicating strong market confidence in SBI [2]