SBI Card board set to meet on Wednesday to consider Rs 5,000 crore NCDs

SBI Card said on Thursday that its board is scheduled to meet on September 18 to consider a proposal to raise funds through non-convertible debentures (NCDs) worth up to Rs 5,000 crore. 

As per the proposal, the NCDs will be issued on a private placement basis in one or more tranches over a period of time, according to a regulatory filing post-market hours.

Earlier on Thursday, SBI Card shares gained by Rs 5.9, or 0.7 per cent, to end at Rs 802.2 apiece on BSE amid an across-the-board rally that took benchmark indices to record levels on Dalal Street. 

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