Public sector State Bank of India (SBI) plans to complete its retail bond issue by September-October through which it plans to raise Rs200-300-crore from retail investors, a top bank official said.
"We will complete the issue soon--may be by September-October," the bank's chairman, OP Bhatt, told reporters on the sidelines of an event here today.
The bonds will carry a maturity of 15-years with a put option at the end of 10-years, he said.
"This is just to test the market appetite--not to raise huge capital," the SBI Chairman said.
Last week, amid market turbulence and volatility, the state-run bank which is India's largest, had raised USD 1-billion (about Rs 4,700-crore) through bonds from the US market.
The bank would use this amount to lend to its corporate clients abroad who are seeking foreign currency loans, Bhatt said.
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