State Bank of India has concluded the issuance of USD 200 Mio Senior Unsecured Reg-S Floating Rate Notes. The notes were issued as a tap of its existing outstanding floating rate note due July 6, 2029. This issuance allows the bank to raise capital through its London branch, with the securities set to be listed on India INX, GIFT City.

The notes carry a coupon of SOFR + 100 bps p.a., payable quarterly in arrears under Regulation-S. The original maturity of the instrument is 3 Years. The issuance was made through the bank's London branch, with the issue date set as July 17, 2026.

Key Details of the Issuance

The following table summarises the key parameters of the floating rate note issuance:

The disclosure was made to the exchanges pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The filing was submitted by Aruna N Dak, DGM (Compliance & Company Secretary) on behalf of the bank.

State Bank of India (SBI) announced an update regarding the initial public offering of its subsidiary, SBI Funds Management Limited, fixing the price band at ₹545 to ₹574 per equity share. The offer for sale comprises up to 170,956,631 equity shares, representing 8.3933% of the paid-up equity share capital, with allotment expected on or about July 18, 2026. The IPO follows a pre-IPO transaction where SBI sold 28,832,748 shares to 30 investors at ₹574 per share for an aggregate consideration of ₹1,655 crores.

Offer Structure

The offer for sale includes up to 99,501,649 equity shares by State Bank of India and up to 71,454,982 equity shares by Amundi India Holding. SBI revised its sale size downward from the previously proposed 128,334,397 shares. Eligible employees are entitled to a discount of ₹54 per equity share. The issue remains subject to regulatory approvals and market conditions.

Financial Performance

For the fiscal year 2026, SBI Funds Management reported a total income of ₹4,969.09 crores and reserves and surplus of ₹3,533.09 crores. These figures represent 0.70% of the total income and 0.59% of the reserves and surplus of the SBI Group, respectively. The company commands a significant market position in the asset management sector.

Transaction Details

The IPO is being conducted through the book-building process in accordance with the Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2018. An addendum to the Red Herring Prospectus was issued on July 10, 2026, to reflect the pre-IPO transaction details and the revised offer size.