banner

A new way of investing

MARKETS

SBI Cards IPO subscribed over 22 times
(18:42, 05 Mar 2020)

back

The-initial-public-offer-(IPO)-of-SBI-Cards-and-Payment-Services-received-bids-for-225.08-crore-shares-today,-5-March-2020,-as-against-10.02-crore-shares-on-offer,-as-per-the-National-Stock-Exchange-of-India-(NSE)-website-data-at-18:15-IST.-The-issue-was-subscribed-22.45-times.

The-issue-opened-for-bidding-on-Monday,-2-March-2020.-It-closed-for-qualified-institutional-bidders-(QIBs)-on-Wednesday-(4-March),-while-it-closes-today-(5-March)-for-all-other-investors.-The-price-band-was-set-at-₹-750-to-₹-755-per-share.

On-Wednesday,-the-quota-reserved-for-QIBs-was-oversubscribed-57.18-times-with-total-bids-for-138.52-crore-shares-as-against-2.42-crore-shares-on-offer-for-them.

The-company-on-28-February-2020-raised-₹-2,769-crore-from-anchor-investors,-ahead-of-its-initial-share-sale.-The-company-allotted-3.66-crore-shares-to-a-total-of-74-anchor-investors,-including-12-mutual-funds,-through-48-schemes,-at-the-upper-end-of-the-price-band-at-₹-755.

SBI-Cards-and-Payment-Services-is-the-second-largest-credit-card-issuer-in-India-with-a-18.1%-market-share-of-the-Indian-credit-card-market-in-terms-of-the-number-of-credit-cards-outstanding-end-November-2019-and-17.9%-market-share-in-total-credit-card-spends-in-the-eight-months-ended-November-2019.-The-company-offers-an-extensive-credit-card-portfolio-to-individual-cardholders-and-corporate-clients,-which-includes-lifestyle,-rewards,-travel-and-fuel,-shopping,-banking-partnership-cards-and-corporate-cards-covering-all-major-cardholder-segments-in-terms-of-income-profiles-and-lifestyles.

The-issue-consisted-of-a-fresh-issue-of-equity-shares-(0.66-0.66-crore-shares)-aggregating-up-to-₹-500-crore-and-offer-for-sale-of-equity-shares-13.05-crore-equity-shares-aggregating-up-to-₹-9789.50-9854.80-crore.

The-offer-for-sale-comprised-3.72-crore-shares-by-the-promoter-selling-shareholder-and-9.32-crore-share-by-the-investor-selling-shareholder.

The-net-proceeds-of-the-fresh-issue-are-proposed-to-be-utilized-for-augmenting-capital-base-to-meet-future-capital-requirements.-The-net-proceeds-of-the-fresh-issue-are-proposed-to-be-deployed-in-the-FY2020.-Further,-there-will-be-the-benefits-of-listing-of-the-equity-shares-on-the-stock-exchanges,-enhancement-of-the-brand-name-and-creation-of-a-public-market-for-equity-shares-in-India.

The-offer-comprised-of-employee-reservation-portion-of-up-to-18,64,669-equity-shares-and-SBI-shareholders-reservation-portion-up-to-1,30,52,680-equity-shares.-A-discount-of-₹-75-per-equity-share-was-offered-to-eligible-employees-bidding-in-the-employee-reservation-portion.

SBI-Cards-and-Payment-Services-reported-net-profit-of-₹-1161.21-crore-and-total-income-of-₹-7240.16-crore-in-the-nine-months-ended-December-2019.-

Powered-by-Capital-Market---Live-News

The-initial-public-offer-(IPO)-of-SBI-Cards-and-Payment-Services-received-bids-for-225.08-crore-shares-today,-5-March-2020,-as-against-10.02-crore-shares-on-offer,-as-per-the-National-Stock-Exchange-of-India-(NSE)-website-data-at-18:15-IST.-The-issue-was-subscribed-22.45-times.

The-issue-opened-for-bidding-on-Monday,-2-March-2020.-It-closed-for-qualified-institutional-bidders-(QIBs)-on-Wednesday-(4-March),-while-it-closes-today-(5-March)-for-all-other-investors.-The-price-band-was-set-at-₹-750-to-₹-755-per-share.

On-Wednesday,-the-quota-reserved-for-QIBs-was-oversubscribed-57.18-times-with-total-bids-for-138.52-crore-shares-as-against-2.42-crore-shares-on-offer-for-them.

The-company-on-28-February-2020-raised-₹-2,769-crore-from-anchor-investors,-ahead-of-its-initial-share-sale.-The-company-allotted-3.66-crore-shares-to-a-total-of-74-anchor-investors,-including-12-mutual-funds,-through-48-schemes,-at-the-upper-end-of-the-price-band-at-₹-755.

SBI-Cards-and-Payment-Services-is-the-second-largest-credit-card-issuer-in-India-with-a-18.1%-market-share-of-the-Indian-credit-card-market-in-terms-of-the-number-of-credit-cards-outstanding-end-November-2019-and-17.9%-market-share-in-total-credit-card-spends-in-the-eight-months-ended-November-2019.-The-company-offers-an-extensive-credit-card-portfolio-to-individual-cardholders-and-corporate-clients,-which-includes-lifestyle,-rewards,-travel-and-fuel,-shopping,-banking-partnership-cards-and-corporate-cards-covering-all-major-cardholder-segments-in-terms-of-income-profiles-and-lifestyles.

The-issue-consisted-of-a-fresh-issue-of-equity-shares-(0.66-0.66-crore-shares)-aggregating-up-to-₹-500-crore-and-offer-for-sale-of-equity-shares-13.05-crore-equity-shares-aggregating-up-to-₹-9789.50-9854.80-crore.

The-offer-for-sale-comprised-3.72-crore-shares-by-the-promoter-selling-shareholder-and-9.32-crore-share-by-the-investor-selling-shareholder.

The-net-proceeds-of-the-fresh-issue-are-proposed-to-be-utilized-for-augmenting-capital-base-to-meet-future-capital-requirements.-The-net-proceeds-of-the-fresh-issue-are-proposed-to-be-deployed-in-the-FY2020.-Further,-there-will-be-the-benefits-of-listing-of-the-equity-shares-on-the-stock-exchanges,-enhancement-of-the-brand-name-and-creation-of-a-public-market-for-equity-shares-in-India.

The-offer-comprised-of-employee-reservation-portion-of-up-to-18,64,669-equity-shares-and-SBI-shareholders-reservation-portion-up-to-1,30,52,680-equity-shares.-A-discount-of-₹-75-per-equity-share-was-offered-to-eligible-employees-bidding-in-the-employee-reservation-portion.

SBI-Cards-and-Payment-Services-reported-net-profit-of-₹-1161.21-crore-and-total-income-of-₹-7240.16-crore-in-the-nine-months-ended-December-2019.-

Powered-by-Capital-Market---Live-News