SBI board clears $3 billion global fundraising plan for FY26

The State Bank of India (SBI) has secured board approval to raise up to $3 billion in long-term funds in FY 2025-26 via international debt markets. In a regulatory filing with the BSE and NSE on Tuesday, the public sector banking giant said the Executive Committee of its Central Board cleared a proposal for raising the amount in one or more tranches through public or private placements.

The funds will be raised under Regulation S and Rule 144A—provisions that allow Indian entities to issue debt securities in global markets to institutional investors without registering them with the U.S. Securities and Exchange Commission (SEC). The instruments in question will be senior unsecured notes denominated in U.S. dollars or any other major foreign currency.

SBI has consistently tapped offshore markets to meet its funding requirements and manage its global operations, which span more than 20 countries. The move aligns with its broader strategy to diversify its funding base and maintain a strong capital adequacy profile while supporting India's growing trade and infrastructure finance needs.

While no timeline was specified, the disclosure notes that the funds will be raised across FY26, depending on market conditions.

This strategic step comes amid heightened global liquidity and cautious optimism in global credit markets. With this plan, SBI reinforces its role as a reliable proxy for the Indian sovereign in international capital markets—often commanding significant interest from foreign investors due to its state backing and strong financials.

SBI’s latest quarterly results showed robust loan growth, stable asset quality, and an expanding net interest margin, positioning it strongly to leverage global capital as it ramps up credit deployment across key sectors.