<p>The issue, which opened for subscription yesterday, will close on October 25.<br /><br />Market sources said that in the bond sale, the portion reserved for wealthy individuals (High Networth Individuals) was subscribed by over 16 times, while that reserved for retail investors was oversubcribed 6.4 times. The offering comprises issue of bonds worth Rs 500 crore, with an option to raise it further upto Rs 500 crore by issuing additional bonds, with the total aggregating to Rs 1,000 crore.<br /><br />The bonds would offer an interest of 9.25 per cent for 10 years and 9.5 per cent for 15 years. Citigroup, Kotak Mahindra Capital and SBI Capital Markets are the managers for the issue. The bonds are proposed to be listed on the National Stock Exchange of India (NSE).<br /><br />The application size for retail investors in the issue is Rs 5 lakh, for HNIs is Rs 250 crore and for qualified institutional buyers (QIB) it is Rs 250 crore. Market sources said electronic subscriptions were not available for retail investors in the said issue.<br /><br />They said that the market regulator Sebi has barred electronic subscription for retail investors to avoid confusion at the time of allotment. The bonds would be alloted to all categories on “first come first serve basis” based on the date of application.<br /><br />SBI scrip were trading 0.31 per cent higher at Rs 3,177 in the morning trade on the BSE.</p>
<p>The issue, which opened for subscription yesterday, will close on October 25.<br /><br />Market sources said that in the bond sale, the portion reserved for wealthy individuals (High Networth Individuals) was subscribed by over 16 times, while that reserved for retail investors was oversubcribed 6.4 times. The offering comprises issue of bonds worth Rs 500 crore, with an option to raise it further upto Rs 500 crore by issuing additional bonds, with the total aggregating to Rs 1,000 crore.<br /><br />The bonds would offer an interest of 9.25 per cent for 10 years and 9.5 per cent for 15 years. Citigroup, Kotak Mahindra Capital and SBI Capital Markets are the managers for the issue. The bonds are proposed to be listed on the National Stock Exchange of India (NSE).<br /><br />The application size for retail investors in the issue is Rs 5 lakh, for HNIs is Rs 250 crore and for qualified institutional buyers (QIB) it is Rs 250 crore. Market sources said electronic subscriptions were not available for retail investors in the said issue.<br /><br />They said that the market regulator Sebi has barred electronic subscription for retail investors to avoid confusion at the time of allotment. The bonds would be alloted to all categories on “first come first serve basis” based on the date of application.<br /><br />SBI scrip were trading 0.31 per cent higher at Rs 3,177 in the morning trade on the BSE.</p>