Mumbai– Country’s largest lender State Bank of India (SBI) on Wednesday said it was authorised by capital raising committee to raise Rs 11,100 crore through Basel III compliant debt instruments on a private placement basis.

“..the Committee of Directors for Capital Raising at its meeting held on August 24, 2016 authorised the Bank to raise upto Rs 11,100 crore AAdditional Tier 1 capital, by way of issue of Basel III compliant Perpetual Debt instrument in USD and/or INR, at par, through private placement to overseas and/or Indian investors,..” the bank said in a filing to Bombay Stock Exchange.

On the BSE, the SBI scrip closed on Wednesday at Rs 254.65, up by 0.02 percent over the previous close.