State Bank Of India has informed the Exchange regarding allotment of 6051 securities pursuant to Non Convertible Securities at its meeting held on March 20, 2026
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State Bank of India has allotted Rs. 6,051 crore worth of Non-convertible, Taxable, Redeemable, Subordinated, Unsecured, Basel III compliant Tier 2 Bonds in the nature of debentures. The bonds carry a coupon rate of 7.05% per annum, have a face value of Rs. 1 crore each, and a tenure of 10 years (allotment on March 20, 2026, redemption on March 20, 2036). Interest will be paid annually on March 20. The issue opened and closed on March 17, 2026, and the bonds are proposed to be listed on both BSE and NSE (ISIN: INE062A08496). This is a routine capital raise by SBI to bolster its Tier 2 capital under Basel III norms.
This is a debt instrument, not equity, so there is no dilution for shareholders. The raise strengthens SBI's Tier 2 capital base, supporting lending growth and regulatory capital ratios. The 7.05% coupon is in line with current market rates, so the cost of borrowing is reasonable. Overall neutral to mildly positive for shareholders.