SBI Cards share price: Credit card company SBI Cards and Payment Services Limited is preparing to raise funds through non-convertible debentures i.e. NCD. The meeting of the Board of Directors of the company is scheduled to be held on Wednesday, 18 September 2024. In this meeting, a decision will be taken on the proposal to raise funds up to ₹ 5000 crore. The company gave this information today on 12 September. Meanwhile, today the shares of the company saw a rise of 0.74 percent. The stock closed at Rs 802.15 on BSE. The market cap of the company is Rs 76,298.
Statement of SBI Cards
SBI Cards said in an exchange filing that the funds will be raised through private placement in one or more tranches over a fixed period. According to the information filed with the stock exchange, “We inform you that the Board of Directors of the company is scheduled to meet on Wednesday, September 18, 2024 to, among other things, consider and approve a proposal to raise funds by issuing non-convertible debentures (NCDs) aggregating to ₹5,000 crore through private placement in one or more tranches over a fixed period.”
Quarterly results of SBI Cards
SBI Cards reported a net profit of ₹594.5 crore for the first quarter ended June 30, 2024, up 0.2% year-on-year. The company’s net profit was ₹593.3 crore in the same quarter last year. The company’s revenue grew 11.4% to Rs 4,358.6 crore as against Rs 3,911.9 crore in the same period last fiscal.
Performance of SBI Cards shares
SBI Cards shares have gained nearly 15 per cent in the last one month. However, the stock has given a negative return of around 4 per cent in the last one year. Its investors have suffered a loss of more than 5 per cent in the last 4 years.
