SBI Card to raise Rs 2K cr through bonds

New Delhi: SBI Cards and Payment Services (SBI Card) on Monday said it will raise Rs 2,000 crore by issuing bonds on a private placement basis.

"The board of directors of the company has approved, raising of funds by way of issuance of non-convertible debentures, (NCDs) aggregating to Rs 2,000 crore," SBI Card said in a regulatory filing.

The money will be raised in one or more tranches, and the said issuance will be done on a private placement basis, SBI Card added.