look news india
New Delhi, September 18 (HS). SBI Cards and Payment Services Limited has announced to raise Rs 5,000 crore through non-convertible debentures (NCDs). The board of the company has approved the private placement of securities in one or more installments for this. The company informed about this through an exchange filing today.
The exchange filing said that the company's board of directors in its meeting, along with discussing other matters, has approved the proposal to raise funds by issuing non-convertible debentures of Rs 5,000 crore in one or more installments on the basis of private placement. Earlier last week, SBI Cards had informed the exchange that the company's board would take a final decision by meeting on September 18 to consider raising funds.
According to the information provided by SBI Cards and Payment Services Limited, the company's net profit has registered a marginal increase of 0.2 percent in the first quarter of the current financial year. The company's net profit was Rs 593.3 crore in the first quarter of last year, which has increased marginally to Rs 594.5 crore in the first quarter of this year. During this period, the company's revenue has increased by 11.4 percent to Rs 4,358.6 crore compared to Rs 3,911.9 crore.