SBI Card IPO: Most awaited IPO of the year is here!. The subsidiary of State Bank of India (SBI), SBI Cards and Payment Services Limited is the second largest credit card issuer in India. The issue size works out to be ₹10,355 crore, making it the fifth-biggest domestic IPO. The company is rated AAA and A1+ by rating firms CRISIL and ICRA.
Most awaited IPO of the year – SBI Card IPO issue opens today.
- The subsidiary of State Bank of India (SBI), SBI Cards and Payment Services Limited is the second largest credit card issuer in India.
- The company is rated AAA and A1+ by rating firms CRISIL and ICRA.
- Consistent track record of generating profits; Net Profit increased from ₹373 cr. in FY’17 to ₹863 cr. in FY’19 with a CAGR of 52%
SBI Card IPO Brief Details
| Issue Details | Values |
|---|---|
| Open Date | 2 March, 2020 |
| Close Date | 5 March, 2020 |
| IPO issue price | ₹750 – ₹755 |
| Market Lot | 19 |
| Min Order Qty | 19 (1 Lot) |
| Max Retail Qty | 247 (13 Lots) |
SBI Cards and Payment Services Limited is the credit card arm of State Bank of India. The company will be selling a part of its promoter holdings while issuing the fresh shares in IPO. Currently, with 18% market share, SBI Cards is the second largest credit card issuer. SBI holds 76% shares in the the company while the Carlyle Group holds the remaining 24% shares. For the half year ended September 30, the company’s revenue was Rs 4,677.20 crore while its net income was Rs 725.88 crore.
SBI Cards, the subsidiary of India’s largest bank The State Bank of India (SBI) was launched in October 1998. SBI Cards offers the widest range of credit cards catering to all types of needs of consumers such as shopping, dining, travel, fuel, and movies amongst others with great benefits, and steal deals. With a huge array of partner retail stores, dining, hospitals, airlines, hospitality, travel and many more.
SBI Cards IPO Subscription Details
| Issue Open Date | 02-Mar-2020 |
|---|---|
| Issue Close date | 05-Mar-2020 |
| IPO Price | 750.00 |
| Face Value | ₹ 10 Per Equity Share |
| IPO Size (In ` Crore) | 10286.20 – 10354.77 |
| Listing At | BSE, NSE |
| IPO Lot Size | 19 |
SBI Cards IPO Allotment Status
| Issue Open Date | 02-Mar-2020 |
|---|---|
| Issue Close date | 05-Mar-2020 |
| IPO Price | — |
| Face Value | ₹ — |
| IPO Size (In Rs Crore) | — |
| Listing At | — |
| IPO Lot Size | — |
Company Contact Information
Unit 401 & 402, 4th Floor, Aggarwal Millennium Tower E-1,2,3, Netaji Subhash Place, Wazirpur, New Delhi.
Phone: +91-080-2561 7486
Email: cosecy_crp@itiltd.co.in
Website: http://www.sbicard.com/
SBI Cards IPO Registrar
Link Intime India Private Ltd
C 101, 247 Park, L.B.S.Marg, Vikhroli (West), Mumbai – 400083Phone: +91-22-4918 6270
Email: sbicard.ipo@linkintime.co.in
Website: http://www.linkintime.co.in
SBI Cards IPO Lead Manager(s)
- Axis Capital Limited
- BoA Merrill Lynch
- HSBC Securities & Capital Markets Pvt Ltd
- Kotak Mahindra Capital Company Limited