Pages

Total Pageviews

Sunday, March 1, 2020

SBI Cards and Payment Services Initial Public Offer( IPO) Opens Monday March 02,2020





SBI Cards & Payments Services Limited ,established in 1998,is one of the only two NBFCs registered as issuers of credit cards and  is the second largest card issuer in the country with a market share of 18 %.

SBI Cards has presence in more than 130 cities in the country, and has a product portfolio that includes premium, classic, travel and shopping, exclusive and corporate cards.

SBI Cards and Payment Services Initial Public Offer( IPO) opened for subscription on Monday March 02,2020

SBI Cards and Payment Services,  the credit card arm of the country's largest lender State Bank of India (SBI), aims to raise around Rs 10,350 crore through the IPO, including new shares worth Rs 500 crore and an offer for sale of 13.05 crore shares

The SBI Cards IPO will comprise a fresh issue of shares worth Rs 500 crore and an offer for sale (OFS) of around 13.05 crore shares

 SBI Cards and Payment Services has fixed a price band of Rs 750-755 per equity share for bidding under the IPO.

Bids under the SBI Cards IPO can be made in lots of 19 shares

At the higher end of price band, one lot will cost an investor Rs 14,345

Under the IPO, 18.65 lakh shares are reserved for employees of SBI Cards, and 130.53 lakh for SBI shareholders.

SBI Cards has raised Rs 2,769 crore from 74 anchor investors, including the Singapore government, the Monetary Authority of Singapore, HDFC Mutual Fund, Government Pension Fund Global and Birla Mutual Fund.

Details of the SBI Cards IPO issue


Particulars Details
Issue opening date March 2, 2020
Issue closing date March 5, 2020
Face value ₹ 10
Present equity paid up capital ₹ 932.3 crores
Fresh issue ₹ 500 crores
Offer for sale ₹ 9,855 crores
Post equity paid up capital ₹ 939 crores
Price band ₹ 750 to ₹ 755
Issue size (amount) calculated on lower price band ₹ 10,290 crores
Issue size (amount) calculated on lower price band ₹ 10,355 crores
Lot size 19 shares and in multiples thereafter
Post-issue implied market cap calculated on lower price band ₹ 70,422 crores
Post-issue implied market cap calculated on upper price band ₹ 70,891 crores
Promoters holdings pre-issue 74%
Promoters holdings post-issue 69.51%



The details pertaining to book building are tabulated below

Investor category Percentage of issue
Qualified institutional buyers (QIBs) 50%
Non-institutional buyers 15%
Retail 35%



































No comments:

Post a Comment