SBI Cards shares in news as firm to consider fundraising on Sept 18 

Shares of SBI Cards and Payment Services are in news on Friday after the firm said its would meet on Wednesday, September 18, 2024 to consider a proposal to raise funds amounting to Rs 5,000 crore through the issuance of non-convertible debentures (NCDs). The funds will be raised via private placement in one or more tranches over a specified period.

SBI Cards stock ended flat at Rs 802.15 on Thursday against the previous close of Rs 796.20 on BSE. It touched an intraday high of Rs 805.75. SBI Cards shares are trading higher than 5-day, 10 day, 20-day, 50-day, 100-day and 200-day moving averages. 

The stock has lost 4 per cent in one year and fallen 15.55 per cent since the beginning of this year. Total 0.43 lakh shares of the firm changed hands amounting to a turnover of Rs 3.47 crore on BSE. Market cap of the firm rose to Rs 76,298 crore. 

"We hereby inform you that a meeting of the Board of Directors of the Company is scheduled to be held on Wednesday, September 18, 2024, inter alia, to consider and approve the proposal, for raising of funds through issuance of non-convertible debentures (NCDs) aggregating to Rs 5,000 crore through private placement, in one or more tranches over a period of time," according to a stock exchange filing.