SBI raises Rs.100 billion via infrastructure bonds

09 Dec 2024 CW Team

State Bank of India (SBI) has raised Rs.100 billion at a coupon rate of 7.23 per cent through its seventh infrastructure bond issuance. The issue attracted overwhelming response from investors with bids in excess of Rs.115 billion and was oversubscribed in excess of two times as against the base issue size of Rs.50 billion.

The total number of bids received was 85 indicating wider participation with heterogeneity of bids. The instrument is rated AAA with a stable outlook. This issuance is also very significant as the bank has been successful in raising long duration bonds successively.

CS Setty, Chairman, SBI said that this issuance will help in developing a long-term bond curve and encourage other banks to issue bonds of longer tenor. Infrastructure bonds are used to finance long-term development projects.

SBI's infrastructure loans jumped 8.86 per cent in the July-September quarter. It currently has over Rs.4 trillion of outstanding loans in this sector, with the bank expecting more demand for such credit. Indian banks have raised a record Rs.740 billion through the sale of infrastructure bonds in this financial year, with SBI topping with Rs.300 billion of such notes.

Equipment

12 Dec 2025

Schwing Stetter India Unveils New Innovations at Excon 2025

Schwing Stetter India unveiled more than 20 new machines at Excon 2025, marking one of its most significant showcases and introducing several India-first technologies to the construction equipment sector. The company launched the country’s first 56-metre boom pump designed and manufactured in India, the first fully electric truck mixer, the first CNG mixer variant and the first hybrid boom pump. Executives said the launch portfolio was engineered to support India’s move toward faster, greener and more vertically oriented infrastructure through advanced engineering, clean-energy solutions a..

SEPC Resolves Hindustan Copper Dispute, Wins Rs 725 Mn Order

Engineering, procurement and construction firm SEPC Ltd has recently settled a dispute with Hindustan Copper Ltd (HCL) and secured a mining infrastructure order valued at Rs 725 million from the state-owned company. SEPC informed the stock exchanges that it has executed a settlement deed with HCL, bringing closure to all inter-se claims and counterclaims arising from arbitration proceedings. As part of the settlement, SEPC will receive Rs 304.5 million as full and final payment, marking the resolution of all pending disputes between the two entities. The company also stated that Hindustan Co..

20% Ethanol Blending Cuts India’s CO2 Emissions by 73.6 Mn Tonnes

Union Road Transport and Highways Minister Nitin Gadkari recently said that India has reduced carbon dioxide emissions by 73.6 million metric tonnes due to the adoption of 20 per cent ethanol blending in petrol. He made the statement while replying to supplementary questions during the Question Hour in the Lok Sabha. Describing ethanol as a green fuel, the minister said it plays a key role in reducing pollution while also supporting higher incomes for farmers. He underlined that ethanol blending contributes both to environmental sustainability and rural economic growth. Nitin Gadkari also po..