According to the latest SBI Card IPO news, investors would be delighted to see the SBI Card IPO reach the market in February, as Moneycontrol reported.
The SBI Card IPO will contain up to 3,72,93,371 equity shares from SBI and up to 9,32,33,427 equity shares from CA Rover Holdings. The SEBI authorised the IPO of SBI Cards and Payment Services in principle. The corporation is owned by the State Bank of India. The SBI Card IPO might be worth around Rs 5,500-6,000 crore, based on the company’s valuation of Rs 55,000-60,000 crore. The IPO date could be in late February or early March 2020. Following authorization, the SBI Card IPO GMP is launched with Kostak and Subject to Sauda.
Moneycontrol was the first company to announce the IPO in September 2019. According to the DRHP, the IPO will include a fresh issue of Rs 500 crore and an offer for sale of up to 13,05,26,798 equity shares. More information about the SBI Card IPO may be found here.
SBI Card IPO Dates & Price Band:
| IPO Open: | 02 March 2020 |
| IPO Close: | 05 March 2020 |
| IPO Size: | Approx ₹10355 Crore (Approx) |
| Face Value: | ₹10 Per Equity Share |
| Price Band: | ₹750 – ₹755 Per Share |
| Listing on: | BSE & NSE |
| Retail Portion: | 35% |
| Equity: | 13,71,49,315 Shares |
| Discount: | ₹15 Per Shares for Employees |
SBI Card IPO Market Lot:
| Lot Size: | Minimum 19 Shares & Maximum 247 Shares |
| Minimum Amount: | ₹14345 |
| Maximum Amount: | ₹186485 |
SBI Card IPO Allotment & Listing:
| Basis of Allotment: | 11 March 2020 |
| Refunds: | 12 March 2020 |
| Credit to Demat Account: | 13 March 2020 |
| Listing Date: | 16 March 2020 |
