Company Profile

State Bank of India (SBI) has executed two inter-bank short term money market transactions with pricing linked to secured overnight financing rate (SOFR). SOFR is an identified replacement for USD LIBOR (London Inter-Bank Offered Rate) which is expected to be phased out at the end of 2021. The transactions were executed by the bank through its Hong Kong branch. The transaction demonstrates SBI's progress in aligning its systems and processes to embrace Alternate Reference Rates (ARRs).

SBI is the country’s largest lender and it offers a wide range of services in the Personal Banking, Agriculture/ Rural, NRI services, SME and Corporate Banking etc.

State Bank of India’s (SBI’s) foreign currency bonds of $600 million, under its $10 billion global Medium Term Note Programme, have been listed on India INX's Global Securities Market (GSM) platform. GSM is GIFT IFSC’s leading primary market platform for raising funds from global investors.

The bonds were issued through SBI's London branch and were priced at a record low coupon of 1.80 per annum.  SBI has been one of the biggest issuers of foreign currency bonds listed on India INX, with a total of $2.6 billion listed on the GSM platform with this listing.

SBI is the country’s largest lender and it offers a wide range of services in the Personal Banking, Agriculture/ Rural, NRI services, SME and Corporate Banking etc.

Bharti Airtel has divested its stake in Seynse Technologies (Seynse) held through Nettle Infrastructure Investments, a wholly-owned subsidiary of the Company. Seynse is a financial technology company that has created Loan Singh Platform. Loan Singh is a digital lending platform designed to make credit easily accessible to millions of creditworthy yet under-served Indians.

Adani Enterprises has won Rs 1838 crore highway project from the National Highways Authority of India (NHAI) in Kerala. The project, under hybrid annuity mode (HAM), is a part of Bharatmala Pariyojna. The company received a letter of award (LOA) from NHAI. The 40.80-km project pertains to six-laning of Azhiyur to Vengalam section of NH-17 (New NH-66) in Kerala.

Essar Ports has handled 12.7 million tonne (MT) cargo in October-December period of the current fiscal. The company had handled 12.6 MT of cargo during the previous quarter. For the three months ending December 2020, the company has sustained revenues for 12.7 MT, same as the previous quarter, as it tries to overcome challenges posed due to the COVID-19 pandemic era. Cumulative cargo handling during April-December 2020 period stood at 36.5 MT.

Power Finance Corporation (PFC) is planning to open its Rs 5,000 crore public issue of secured, redeemable Non-Convertible Debentures on January 15, 2021. The base Issue size is Rs 500 crore with an option to retain oversubscription of up to Rs 4,500 crore aggregating up to Rs 5,000 crore which are within the shelf limit of Rs 10,000 crore.

Ircon International achieved yet another milestone by opening the 30 KM section between Korichhapar to Dharamjaigarh within the targeted date. A trial run was carried on December 31, 2020.

White Organic Retail has received approval for incorporation of a Wholly Owned Subsidiary (WOS) in the name and style of White Organic Foods or White Organic Snacks as may be approved by Ministry of Corporate Affairs. The proposed WOS to be incorporated in India shall carry out business in the field of FMCG and organic food products.

State Bank of India’s (SBI’s) foreign currency bonds of $600 million, under its $10 billion global Medium Term Note Programme, have been listed on India INX's Global Securities Market (GSM) platform. GSM is GIFT IFSC’s leading primary market platform for raising funds from global investors.