SBI Card to raise Rs 2,000 cr by issuing bonds

''The board of directors of the company has approved, raising of funds by way of issuance of non-convertible debentures (NCDs), aggregating to Rs 2,000 crore,'' SBI Card said in a regulatory filing.

The money will be raised in one or more tranches, and the said issuance will be done on a private placement basis, it added.

The company's stock was trading at Rs 1,104 on BSE, down 1.45 per cent from the previous close.