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