The bonds are issued for a tenor of 10 years, with call option after 5 years and each anniversary date thereafter.
These bonds are rated ‘AAA’ with ‘stable’ outlook from CRISIL Ratings and India Ratings and Research.
The bank further informed that the issue had attracted strong response from investors with bids of approximately 2 times against the base issue size of Rs 5,000 crore.
The total number of bids received was 47 indicating participation from diverse set of qualified institutional bidders. The investors were across provident funds, pension funds, mutual funds, banks etc.
Based on the response, the bank decided to accept Rs 6,051 crore at a coupon rate of 7.05% payable annually for a tenor of 10 years.
State Bank of India is engaged in providing a wide range of products and services to individuals, commercial enterprises, large corporates, public bodies, and institutional customers.
The bank reported a 24.49% jump in net profit to Rs 21,028 crore on a 9.69% increase in total income to Rs 140,915 crore in Q3 FY26 as compared with Q3 FY25.
The scrip rose 0.54% to currently trade at Rs 1069.70 on the BSE.