SBI retail bond issue oversubscribed 17 times

State Bank of India's (SBI) retail bond issue was subscribed 17.3 times. SBI received applications worth around Rs85bn on Day One itself, although it had planned to collect just Rs10bn. Given the overwhelming response, SBI could come out with another such issue in the next three months, reports said. The bank is planning to close the issue before October 25. SBI floated a public issue of lower Tier II bonds worth Rs10bn, including Rs5 bn greenshoe. The QIB portion was subscribed more than 46 times , while the Non-Institutional (HNI) section was subscribed 18 times and Retail by twice the amount of bonds allotted to them.