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SBI Card and Payment Services (SBI Card) raised Rs 500 by issuing bonds on a private placement basis.
According to SBI Card, the company’s Stakeholders and Customer Experience Commission has approved the allocation of a fixed interest rate non-convertible bond (NCD) with a par value of Rs 100,000 each at Rs 5,000. Submission to regulatory agency on Tuesday.
The holding period of the financial product is three years and will expire on August 16, 2024. SBI Card offers a coupon rate of 5.70% per year for bonds.
The company’s stock fell 0.92% at Rs 1,016 per share at BSE.
(Only the headlines and photos in this report may have been reworked by Business Standard staff. The rest of the content is automatically generated from the syndicate feed.)
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