SBI Cards IPO – State Bank of India is planning to sell 131 million shares of its Subsidiary ‘SBI Cards and Payment services Ltd‘ through IPO this month. The final date for IPO of SBI Card, along with other details and reviews are explained in this article.
SBI Card and Payment Services, the Credit Card arm of State Bank of India is all set for its Initial Public Offering of Rs. 9,000 Crores on March 2, 2020. The bidding will open on March 2 and will close on March 5, 2020.
It is the credit card faculty of State Bank of India (SBI) and is all set to enter the market with its initial public offering (IPO) this month if it gets the green signal from the Securities and Exchange Board of India (Sebi), the regulator. The company filed its DRHP with the regulator in November 2019.
State Bank got go-go by the regulator and issued RHP on 18 Feb 2020. That shows the Bank will issue Rs. 500 Crores worth of 131 million shares via SBI Cards IPO.
SBI Cards IPO
State Bank of India is India’s largest commercial bank in terms of Deposit, Asset lending and Branches. The SBI Cards is the second-largest Credit and Debit issuer in India and holding around 18% market share.
It was launched in 1998 by India’s largest bank “SBI” and GE Capital.
SBI Cards IPO Date
SBI Cards IPO Date is most likely to be 03 Mar 2020.
The SBI Card Dates are as follows:
|Open Date||March 02, 2020|
|Close Date||March 05, 2020|
|Listing Date||March 9, 2020 (Tentative)|
SBI Card IPO Details & Review
State Bank of India will sell its 1% stake in its subsidiary through SBI Card Initial Public Offering.
SBI Cards offers a wide range of Credit Cards and Debit Cards under its own Brand of State Bank of India as well as other Cards also. State Bank Cards offers Card to its individual and corporate clients and those cards include fuel, banking partnership cards, and corporate cards, lifestyle, rewards, shopping, travel, etc.
The company is planning to raise up to Rs. 9,000-9,500 crore from the share sale through SBI Card IPO, with a fresh issue size of around Rs 500 crore. The issue will comprise an offer for sale of around 131 million shares from its stake.
SBI Cards & Payment Services Limited IPO Details
SBI Card IPO’s financial data are mentioned below along with timelines like IPO Open Date, Closing Date, IPO Allotment Date and IPO Listing Date:
|Open Date||Mar 03, 2020|
|Close Date||Mar 05, 2020|
|Face Value||₹ 10 Per Equity Share|
|Issue Size||₹ 8500 Cr.|
|Lot Size||24 Shares|
|Listing At||NSE and BSE|
|Listing Date||09 Mar, 2020|
SBI Cards IPO GMP (IPO Grey Market Premium)
The SBI Cards IPO GMP as on 20 Feb 2020 is Rs. 320/325.
- Application – Rs. 3800/-
- Subject to Rates – Rs. 4800/-
- As per Grey market traders, if the IPO is not declared by the end of Feb 2020, then all SELL transactions in this IPO will be treated as Cancelled.
State Bank of India Cards IPO is making waves from a couple of months in the market. The IPO is considered a good investment opportunity and can deliver a good return on investment on IPO listing Date.
In my opinion, one should apply for the SBI Card IPO Subscription for sure.