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When any subsidiary company of a parent company comes with IPO, the parent company reserves shareholding quota for parent company stockholders to give them easy investment options in their subsidiary company as a gift of their loyalty. Thus, investors who hold SBI shares on the 18th Feb 2020 (the date of filing RHP with SEBI) are eligible to apply under the shareholder's category of SBI Cards IPO. In past shareholder cut-off was not for the new investors. But recently, cut-off date is linked with RHP filing date. In such case, lots of new investors will get the chance to enter in IPO via shareholding quota.
When applying in IPO, you will get an option for shareholders' quota. In case you are eligible candidate, you must apply in 1-2 lots in the shareholder category. Simultaneously, you can apply 1 lot in the retail category also. As per SBI Cards IPO DRPH, 13,052,680 Equity Shares are reserved for SBI Shareholders on a proportionate basis.
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