SBI raises $500 million through IFSC Gift City branch


SBI raises $500 million through IFSC Gift City branch

This is the first offshore USD Secured Overnight Financing Rate (SOFR) linked syndicated loan raised by SBI through its Gift City branch, a release said.

The non-banking finance company plans to raise the capital in two phases. It is in the process of raising Rs 20 crore next month from high-net worth individuals. This would be followed by another Rs 80 crore equity raising later in the fiscal from institutional investors, said Deepak Aggarwal, co-founder and co-chief executive officer.


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