State Bank of India on Wednesday said it expects to complete the bond issue to raise Rs 200-300 crore from retail investors by September or October this year. We will complete the issue soon, may be by September- October, SBI chairman OP Bhatt said on the sidelines of an event. 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 Bhatt said. Last week, the bank had raised $1 billion through bonds from the US market.
YES Bank to raise Rs 500 cr by Sep
To fund business growth, YES Bank intends to raise Rs 500 crore from bonds by September. Every quarter the bank would raise capital and plans to raise Rs 1,500 crore by March 2011. The money will be raised for funding infrastructure and agri growth, YES Bank MD Rana Kapoor said.
Axis Bank targets 21% credit growth
Axis Bank on Wednesday said it is targeting a credit growth of 20% to 21% this fiscal. We are looking at a credit growth of 20-21% in the current fiscal, MD & CEO of Axis Bank Shikha Sharma said on the sidelines of Ficci Banking Conclave.