 "SBI Card: Board approves raising up to Rs 2,500 crore through NCDs")
SBI Cards and Payment Services (SBI Card) on Monday said its board has approved a proposal to raise Rs 2,500 crore by issuing non-convertible debentures (NCDs) to fund business growth.
The fund would be raised in one or more tranches, SBI Card said in a regulatory filing.
The NCD issuance would be done on a private placement basis, it added.
Shares of SBI Cards and Payment Services closed at Rs 773.95 apiece, up 0.09 per cent on the BSE.
(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
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