The board of India's largest public lender, State Bank of India (SBI), on Wednesday approved a plan to raise funds worth Rs 20,000 crore in INR through the issuance of Basel III-compliant Additional Tier 1 and Tier 2 Bonds.The lender will issue bonds to domestic investors during the current financial year, SBI said in its filing to the exchanges.After the fundraise announcement, shares of the lender rose over 2% to hit the day's high of Rs 834 on the NSE.SBI shares have been laggards, declining nearly 6% over 12 months, though they have managed to deliver positive returns of 5% in 2025 so far.The lender has lagged behind its peers in the PSU banking space. While the Nifty PSU Bank index declined by over 2% in the past 12 months, the broader Nifty gained 2.5% during the same period.Its shares have bounced back in the last six months, gaining 10% and outperforming the headline Nifty, whose returns stand at 8.6%.SBI shares are currently trading above their 50-day and 200-day simple moving averages (SMAs) of Rs 801 and Rs 789, respectively, according to Trendlyne.The stock has also exhibited volatility with a 1-year beta of 1.1.The public sector lender had reported a standalone net profit of Rs 17,035 crore for the quarter ended June 30, 2024, gaining 0.9% over Rs 16,884.29 crore reported in the year-ago period. The net interest income (NII) in Q1FY25 stood at Rs 41,125 crore, a jump of 5.71% over Rs 38,905 crore in Q1FY24.
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