SBI cards and Payment services(is a non banking financial company that offers extensive credit card portfolio to individual cardholders and corporate clients) was approved to raise 2500 cr through non convertible debentures to fund business growth by its board.
The fund would be raised in one or more proportions. the debenture is said to be issued in a private placement basis. The company reported a 231 % jump in net profit to Rs 581 crore on a 22% rise in total income to Rs 3,016 crore in Q4 FY22 over Q4 FY21. Shares of SBI card closed at Rs 773.95 a piece , up 0.09 per cent on the BSE.
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