State Bank of India , the country's largest lender, has successfully completed its Basel III compliant Tier 2 bond issuance, raising ₹6,051 crores at a competitive coupon rate of 7.05%. The bank has provided detailed updates on the bond issuance process pursuant to Regulation 30 of SEBI (LODR) Regulations, 2015, with allotment scheduled for March 20, 2026.

Bond Issue Timeline and Structure

The bond issuance was conducted through the Electronic Bidding Platform (EBP) of NSE, with the bidding process completed in a single day. The bonds are structured as 10-year instruments with flexible call options for the issuer.

Bond Terms and Features

The bonds carry attractive terms structured as non-convertible, taxable, redeemable, subordinated, and unsecured instruments compliant with Basel III norms.

Investor Participation and Market Response

The bond issue demonstrated strong market confidence with significant institutional participation. The bidding process attracted 47 bids from qualified institutional bidders, reflecting robust investor appetite for high-quality banking sector instruments.

Regulatory Compliance and Listing

The bonds are proposed to be listed on both BSE Limited and National Stock Exchange of India Limited, ensuring broad market accessibility. The issuance complies with Basel III capital adequacy norms, strengthening the bank's Tier 2 capital base for regulatory purposes.

This successful bond issuance reinforces State Bank of India's strong market position and investor confidence in the banking sector. The competitive pricing at 7.05% coupon rate, combined with the structured call options, provides flexibility for both the bank and investors while supporting the bank's capital requirements and growth objectives.

State Bank of India conducted a virtual investor interaction on March 16, 2026, with institutional investors and analysts in Mumbai, arranged by Morgan Stanley. The meeting was held in compliance with Regulation 30 of SEBI (LODR) Regulations, 2015, as disclosed by the bank's Compliance and Company Secretary department.

Meeting Details

The virtual investor interaction was structured as a group meeting, providing an efficient platform for multiple stakeholders to engage with the bank's representatives simultaneously.

Institutional Participation

The meeting witnessed participation from over 50 institutional investors and analysts, representing a diverse mix of domestic and international financial institutions. The participant list included prominent names from the asset management and investment community.

Key Participants

The interaction featured major institutional investors across various categories:

• Mutual Fund Companies: Aditya Birla Sun Life Asset Management, Axis Asset Management, HDFC Asset Management, Kotak Mahindra Asset Management
• International Asset Managers: Franklin Templeton, T Rowe Price, PIMCO, Aberdeen Investments
• Pension Funds: Canada Pension Plan Investment Board, Ontario Municipal Employees Retirement System
• Hedge Funds: Citadel International Equities, DE Shaw, Millennium Partners, Balyasny Asset Management
• Insurance Companies: Aditya Birla Sun Life Insurance, AIA Group

Regulatory Compliance

The bank emphasized its adherence to regulatory guidelines during the investor interaction. As disclosed in the official communication, only information available in the public domain was shared with the investors during the meeting. This approach ensures compliance with insider trading regulations and maintains transparency in investor communications.

The disclosure was made through a formal letter numbered CC/S&B/AND/2025-26/906, signed by Aruna N. Dak, Deputy General Manager (Compliance & Company Secretary), and digitally authenticated on March 16, 2026.

Significance for Stakeholders

Such investor interactions serve as important platforms for institutional investors to gain insights into the bank's operations, strategic direction, and performance metrics. The participation of diverse institutional investors, including both domestic and international entities, reflects the continued interest in State Bank of India's business prospects and its position in the Indian banking sector.