State Bank of India approved raising funds up to $3 billion during the current fiscal, according to an exchange filing on Monday.
In May, the lender proposed to raise $3 billion in single or multiple tranches through a public offer or private placement of senior unsecured notes in the US dollar or in any other major foreign currency.
SBI Cuts Interest Rates
Following the RBI rate cut, State Bank of India slashed its lending rate by 50 basis points, making loans cheaper for both existing and new borrowers.
With the latest round of reduction, the Repo Linked Lending Rate of SBI would come down by 50 basis points to 7.75%. The revised rates come into effect from June 15, 2025,
Shares of SBI closed 0.02% higher at Rs 792.5 apiece on the National Stock Exchange, compared to a 0.92% rise in the benchmark Nifty. The stock has fallen 6.2% in the last 12 months and 0.31% on a year-to-date basis.
Out of the 50 analysts tracking the company, 40 have a 'buy' rating on the stock, nine recommend 'hold' and one suggests 'sell', according to Bloomberg data. The average of 12-month analysts' price target implies a potential upside of 18%.
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