SBI Cards and Payment Services (SBI Card) on Monday said its board has approved a proposal to raise Rs 2,500 crore by issuing non-convertible debentures (NCDs) to fund business growth.
The fund would be raised in one or more tranches, SBI Card said in a regulatory filing.
The NCD issuance would be done on a private placement basis, it added.
Shares of SBI Cards and Payment Services closed at Rs 773.95 apiece, up 0.09 per cent on the BSE.