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

SBI Card said in a regulatory filing, “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”.

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

The company’s stock was trading at Rs 1,104 on BSE, down 1.45% from the previous close.

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