SBI Cards files ₹10,000 crores IPO papers with SEBI. SBI to divest up to 4% stake in their subsidiary SBI Cards. The SBI Cards IPO date is not announced yet. SBI Cards and Payment Services Pvt Ltd (SBICPS) is the credit card unit of the State Bank of India. The company to raise between ₹8,500 crores and ₹9,500 crores. The value of the company is estimated at around ₹60,000 crores It will be one of the largest stock market listings in the country.
As per the draft red herring prospectus (DRHP), the Initial Public Offer will comprise a fresh issue of equity shares aggregating ₹500 crores and an Offer for Sale by promoter SBI (3.72 crore equity shares) and by investor CA Rover Holdings (9.32 crore equity shares). SBI currently holds 74% in SBI Cards (SBICPS). Stay tuned for the SBI Cards IPO date, price band, and market lot details.
The answer is, SBI Cards IPO Allotment will be on 11th March 2020, Wednessday and you can check the SBI Cards IPO allotment status here.
SBI Cards IPO Allotment Date: 11th March 2020
SBI Cards IPO Listing Date: 16th March 2020
SBI Cards IPO Basis of Retail Allotment: 3 out of 5 Applications
Check SBI Cards IPO Allotment Here:
Log on to https://linkintime.co.in/MIPO/IPO.aspx
SBI Cards IPO Dates & Price Band:
|IPO Open:||02nd March 2020|
|IPO Close:||05th March 2020|
|IPO Size:||Rs. 10,354.77 Crore|
|Price Band:||Rs. 750 -755 Per Share|
|Listing on:||BSE & NSE|
|Employee Discount:||Rs. 75 Per Share.|
SBI Cards IPO Market Lot:
- Shares: Apply for 19 Shares (Minimum Lot Size)
- Minimum Amount: ₹14,345
- Maximum Amount: ₹1,86,485
SBI Cards IPO Allotment & Listing:
- Basis of Allotment: 11th March 2020
- Refunds: 12th March 2020
- Credit to Demat accounts: 13th March 2020
- Listing: 16th March 2020