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. 

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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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