On September 22, the State Bank of India (SBI), the largest lender in the nation, announced that its fourth infrastructure bond issue had generated Rs 10,000 crore at a coupon rate of 7.49 per cent.
According to a statement from SBI, the issue received an overwhelmingly positive response from investors, who offered bids totalling Rs 21,045.10 crore, more than five times the base offering size of Rs 4,000 crore.
SBI continued by saying that the bank decided to take Rs 10,000 crore at a coupon rate of 7.49 per cent payable yearly based on the response.
"The total number of bids received was 134, indicating wider participation with heterogeneity of bids. The investors were across provident funds, pension funds, insurance companies, mutual funds, corporates, etc. The proceeds of bonds will be utilised in enhancing long-term resources for funding infrastructure and the affordable housing segment," said the bank.
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