State Bank of India , the country's largest lender, has issued a correction regarding its recently completed Basel III compliant Tier 2 bond allotment of ₹6,051 crores at 7.05% coupon rate. The bank officially corrected the number of bonds allotted through a regulatory filing dated March 24, 2026.

Correction in Bond Count

The bank clarified that the actual number of bonds allotted was 6,051 instead of the previously disclosed 1,00,00,000 bonds. This correction was communicated through disclosure reference CC/S&B/SD/2025-26/932, updating the earlier disclosure CC/S&B/SD/2025-26/927 dated March 20, 2026.

Bond Structure and Features

The bonds maintain their original structure as non-convertible, taxable, redeemable, subordinated, and unsecured instruments with a face value of ₹1 crore each. The 10-year tenure bonds continue to offer annual interest payments with structured call options.

Regulatory Compliance and Listing

The correction was filed with both BSE Limited (Scrip Code: 500112) and National Stock Exchange of India Limited (Scrip Code: SBIN) as per regulatory requirements. The bonds remain proposed for listing on both exchanges and continue to comply with Basel III capital adequacy norms.

This administrative correction ensures accurate disclosure while maintaining the fundamental terms and successful completion of the bond issuance that strengthens the bank's Tier 2 capital base.

State Bank of India witnessed significant institutional activity with a major block trade executed on the National Stock Exchange (NSE). The transaction represents one of the notable trading activities for the public sector banking giant.

Block Trade Details

The block trade executed on NSE involved substantial volumes and value, highlighting institutional investor participation in the bank's shares.

Market Significance

Block trades typically represent large institutional transactions that are executed outside the regular market to avoid significant price impact. Such transactions often involve mutual funds, insurance companies, foreign institutional investors, or other large market participants. The execution of this block trade indicates active institutional interest in State Bank of India shares at the specified price level.

The transaction value of Rs. 66.16 crores represents a significant quantum of trading activity, reflecting the liquidity and institutional appeal of the banking stock. Block trades are generally conducted when large volumes need to be transacted without affecting the prevailing market price through regular trading mechanisms.