State Bank of India Lists $500 Million Bonds on NSE IX After India’s Rating Upgrade

The State Bank of India (SBI) has marked a significant milestone by becoming the first issuer to raise and list $500 million worth of foreign currency bonds on NSE International Exchange (NSE IX) following India's recent sovereign rating upgrade. The listing event was held at GIFT IFSC, with the SBI senior management present to ring the ceremonial bell, celebrating this landmark transaction.

SBI’s Landmark Listing Sets a Benchmark in GIFT City

This $500 million issuance stands out not only for being the first post-upgrade but also for being priced at the tightest spread ever by any Indian bank. This milestone reiterates SBI’s strong global investor appeal and its active role in enhancing GIFT City’s reputation as a leading international financial hub. The bank continues to demonstrate a long-term commitment to building a strong presence at India’s only IFSC.

NSE IX’s Bond Listings Surpass $34 Billion

With this listing, NSE IX has now exceeded $34 billion in total bond listings and established medium-term notes worth over $68 billion. Mr. V. Balasubramaniam, MD & CEO of NSE IX, welcomed SBI’s entry and highlighted the significance of the listing in cementing NSE IX’s role as the preferred platform for foreign currency bonds. He expressed gratitude to SBI for their trust and confidence in the platform’s capabilities.

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Strong Investor Confidence in SBI’s Global Standing

SBI's Managing Director for IB, GM & T, Shri Rama Mohan Rao Amara, noted that the successful issuance reflects robust demand from global investors and reaffirms confidence in SBI's credit quality. The listing also enhances SBI’s visibility in international markets and underlines its support for India’s vision of GIFT City as a global financial powerhouse.

State Bank of India Share Price Performance

On September 10, 2025, State Bank of India share price opened at ₹812.00 on NSE, above the previous close of ₹808.85. During the day, it surged to ₹814.50 and dipped to ₹810.40. The stock is trading at ₹813.40 as of 9:22 AM. The stock registered a moderate gain of 0.56%.

Over the past week, it has moved up by 0.49%, over the past month, it has declined by 0.88%, and over the past 3 months, it has declined by 0.45%.

Conclusion

SBI’s $500 million bond listing on NSE IX is a landmark moment for Indian banking and capital markets. Coming on the heels of India’s sovereign rating upgrade, it demonstrates the country's growing stature in global finance and SBI's pivotal role in supporting strategic financial initiatives like GIFT City.

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