SBI Cards IPO Review

IPO Status: UpComing [2nd Mar 2020 to 5th Mar 2020]

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The SBI Cards IPO opens on 02-Mar-2020 and closes on 05-Mar-2020. The RHP has been filed on 18th Feb 2020, Shareholders quota cut-off date is same as RHP filing date.

  • Fresh Issue: 500 Cr
  • Offer for Sale: Upto 13,05,26,798 Equity Shares
  • Employee Reservation Portion: Upto 18,64,669 Equity Shares
  • SBI Shareholders Reservation Portion: Upto 1,30,52,680 Equity Shares
  • SBI Cards Shareholders Cut-Off Date: 18-02-2020
  • Company Incorporated Year: 1998
  • Sector: Banking and Finance
  • Website: www.sbicard.com

About SBI Cards and Payment Services Limited

The subsidiary of State Bank of India (SBI), SBI Cards and Payment Services Limited is the 2nd largest credit card issuer in India. The company covers the "premium" cardholder category to the "affluent", "mass affluent", "mass" and "new to credit" categories.

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 credit card portfolio of the company includes SBI Card-branded credit cards as well as co-branded credit cards that bear both the SBI Card brand and co-brand partners’ brands. The company offers four primary SBI Card - branded credit cards: SimplySave, Simply Click, Prime and Elite. For co-brand credit cards, the company has partnership with travel, fuel, fashion, healthcare and mobility industries like Air India, Apollo Hospitals, BPCL, Etihad Guest, Fbb, IRCTC, OLA Money and Yatra, among others.

The company offers credit cards in partnership with the Visa, MasterCard and RuPay payment networks.

The company's total income increased at a CAGR of 44.9% and the revenues from operations have increased at a CAGR of 44.6% from 2017 to 2019. The net profit increased by a CAGR of 52.1% during this period.

The company has a sales force of 33,086 employees in 133 Indian cities and has access to SBI's network of 22,007 branches across India and their 436.4 million customers to market its products.

SBI Cards IPO Objective

The Offer comprises of a Fresh Issue and Offer for Sale-

  1. The Offer for Sale- The object of the Offer for Sale is to allow the Selling Shareholders to sell Equity Shares held by them.
  2. Fresh Issue- To utilize the net proceeds of the Fresh Issue to meet the company's future capital requirements.

SBI Cards IPO Shareholders Reservation Portion

    Reservation of up to 1,30,52,680 equity shares is available for allocation to SBI Shareholders on a proportionate basis. The cut-off date is 18th Feb 2020. As per RHP, the SBI shareholders can apply above Rs 2 lakh and maximum up to the reserved portion for the SH category. SBI shareholders bidding up to Rs 2 lakh can also apply under the retail category.

SBI Cards IPO Employee Reservation Portion

    Reservation of up to 18,64,699 equity shares is available for Eligible Employees on a proportionate basis with employee discount of Rs 75 per share. As per RHP, the Eligible Employees can apply up to Rs 5 lakh for the Employee Reservation Portion. However, the initial Allotment will be of Rs 200,000 in case of full or oversubscribed employee category. In the event of under-subscription, the unsubscribed portion will be allotted proportionately to all Eligible Employees who have Bid above Rs 200,000, subject to the maximum limit not exceeding Rs 500,000.

 

SBI Cards IPO - Retail, Shareholding and Employee bidding limit for Individual Investor

    Below table will give you a clear picture on how much to bid for in each category by the retail investor. If you are applying in SH category above Rs 2 lakhs, you can't apply in Retail and Employee category. So to participate in any of the two categories, you have to apply below 2 lakhs in shareholders quota..

      
      Shareholders Reservation Portion Retail Employee Reservation Portion
    Individual Investor Up to ₹ 2,00,000 Up to ₹ 2,00,000 Up to ₹ 5,00,000
    Individual Investor Above ₹ 2,00,000 Not Allowed Not Allowed

SBI Cards IPO Details

SBI Cards IPO details includes issue size, issue price, discount information, minimum and maximum order quantity, promoters holding details, NSE and BSE code.

    SBI Cards IPO Details
    SBI Cards Issue Details Values
    IPO Category Mainline
    IPO Issue Type Book Built Issue IPO
    IPO Issue Size 13,71,49,315 Shares
    Offer for Sale 13,05,26,798 Shares
    Fresh Issue ₹500 Cr
    Face Value ₹10 Per Equity Share
    IPO Issue Price ₹750-₹755
    IPO Discount Employees ₹75
    Market Lot 19
    Min Order Qty 19(1 Lot)
    Max Retail Qty 247(13 Lots)
    Promoter Holding Pre IPO 74%
    Promoter Holding Post IPO 69.51%
    IPO Listing At BSE, NSE
    BSE Code
    NSE Code SBICARDS

SBI Cards Financials for past 3 Years

Past performance and financial results of SBI Cards.

    SBI Cards financial
    SBI Cards IPO Financials 30-Sep-2019 31-Mar-2019 31-Mar-2018 31-Mar-2017
    Total Assets ₹24459.14 Cr ₹20239.63 Cr ₹15686.00 Cr ₹10764.99 Cr
    Total Expense ₹3642.62 Cr ₹5955.24 Cr ₹4450.85 Cr ₹2899.42 Cr
    Total Revenue ₹4677.21 Cr ₹7286.83 Cr ₹5370.19 Cr ₹3471.04 Cr
    Net Profit/Loss ₹725.88 Cr ₹862.72 Cr ₹601.14 Cr ₹372.86 Cr

SBI Cards IPO Strengths

  • 2nd largest credit card issuer in India.
  • Diversified customer acquisition capabilities.
  • Industry expertise and a demonstrated track record of growth and profitability.
  • Supported by a strong brand and pre-eminent Promoters.
  • Diversified portfolio of credit card offerings.
  • Advanced risk management and data analytics capabilities.
  • Modern and scalable technology infrastructure.
  • Highly experienced and professional management team.

SBI Cards IPO Threats/Weaknesses

  • Loss or reduction in the level of support received from
  • Competition from other credit card issuers and payment solutions providers.
  • Company may not be successful in implementing growth strategies or penetrating new markets or services.

SBI Cards IPO Important Dates

In this section we have covered all imporatant dates related to SBI Cards IPO. Dates are updated as they are announced. The most noted dates are IPO start date and IPO end date, which one should use to participate in IPO.

    SBI Cards IPO important dates
    IPO Activity Date
    IPO Issue Open Date 2nd Mar 2020
    IPO Issue Close Date 5th Mar 2020
    Basis of Allotment Finalisation Date* 11th Mar 2020
    Refunds Initiation* 12th Mar 2020
    Credit of Shares to Demat Account* 13th Mar 2020
    IPO Listing Date* 16th Mar 2020

* - Tentative Dates

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SBI Cards IPO Draft Prospectus >>Document

SBI Cards IPO Red Herring Prospectus >>Document

SBI Cards IPO Allotment Status >>SBI Cards IPO Allotment is not declared yet, expected to be declear by 11th Mar 2020, will provide the link once allotment is out.

Company Address

SBI Cards and Payment Services Limited
2nd Floor, Tower-B,
Infinity Towers, DLF Cyber City,
Block 2 Building 3, DLF Phase 2,
Gurugram, Haryana 122 002, India
Website: www.sbicard.com
Email: [email protected]
Phone: +91 (11) 6126 8100

Registrar

Link Intime India Private Limited
C-101, 1st Floor,
247 Park Lal Bahadur Shastri Marg,
Vikhroli (West) Mumbai – 400 083 Maharashtra, India
Email: [email protected]e.co.in
Website: www.linkintime.co.in
Contact Person: Shanti Goplakrishnan

Lead Manager

  • Kotak Mahindra Capital Company Limited
  • Axis Capital Limited
  • BofA Securities
  • HSBC Securities and Capital Markets (India) Private Limited
  • Nomura Financial Advisory and Securities (India) Private Limited
  • SBI Capital Markets Limited
  • SBI Cards IPO Important dates - Issue Open Date, close Date, IPO Listing Date. IPO Details - Offer Size, Issue Size, Type of IPO, Issue Price, Market Lot, BSE Cd, NSE Cd, IPO Listing date. What is the issue open date and close date for SBI Cards? Should I apply in SBI Cards IPO?

    Last Updated on 2020-02-25T04:45:24+00:00

    SBI Cards IPO FAQs

    1. 1. How to subscribe SBI Cards IPO in Zerodha?

      Now you can apply in online IPO application via Zerodha back office software "console". You can subscribe SBI Cards IPO with Zerodha. You need to apply application online using UPI payment mode. To purchase SBI Cards IPO with Zerodha, you must be Zerodha customer and have UPI payment setup. For more details please visit detail article Step by Step Guide to apply SBI Cards IPO with Zerodha.

      Alternate approch to apply in SBI Cards IPO is ASBA. You can use Zerodha DP information and apply online via ASBA with your prefered net banking user id.

      SBI Cards IPO Review and Important Updates

      Other relevant questions :

      How to subscribe SBI Cards IPO Zerodha? How to purchase SBI Cards IPO on Zerodha? SBI Cards IPO how to buy Zerodha? SBI Cards IPO Zerodha apply. SBI Cards IPO purchase Zerodha. SBI Cards IPO with Zerodha. SBI Cards IPO at Zerodha. SBI Cards IPO kite Zerodha. SBI Cards IPO using Zerodha. SBI Cards IPO via Zerodha.

      Discuss this question

    2. 2. How to apply in SBI Cards IPO online?

      Apply in SBI Cards IPO online

      To subscribe or apply in SBI Cards IPO, you can use the following methods:

      SBI Cards IPO Applying ModeMethodDetails
      Online Application3-in-1 Trading Account

      If your broker is 3-in-1 service provider, you can apply in SBI Cards IPO directly with your brokers website. Example HDFC Security, ICICI Direct, AxisDirect and so on are 3-in-1 brokers provide you direct IPO investment.

      Online Application2-in-1 Trading Account

      Brokers like Zerodha, TradeSmart Online are providing you access to applying in SBI Cards IPO with their in-house developed platform. You need to apply in IPO via UPI payment method. You must have access of your UPI mandate to apply in IPO online.

      Online ApplicationASBA

      This is one of the most popular mode of applying in SBI Cards IPO. Max syndicate bank provide you access to apply in SBI Cards IPO via ASBA process. You must have your net banking access, DP ID information to apply in SBI Cards IPO via ASBA. Bank like Axis, SBI allows you to apply max 5 application from one bank account. Where ICICI, HDFC bank have limit of one IPO ASBA application per account.

      Offline ApplicationPhysical Form

      You can apply in SBI Cards IPO via physical application, but you can’t apply physical application via ASBA. You need to apply physical application via UPI mode of payment and need to approve the mandate of UPI with your registered phone number with your UPI provider. You can use BHIM app or banks mobile app who support UPI process like SBI, HSBC, Axis, ICICI, HDFC, Yes Bank, Citi Bank mobile app.

      SBI Cards IPO Review and Important Updates

      Other relevant question on same topics are:

      Where to subscribe SBI Cards IPO? Where to apply for SBI Cards IPO? How to subscribe SBI Cards IPO online? SBI Cards IPO where to apply? Where to buy SBI Cards IPO online? How to buy SBI Cards IPO online? How to purchase SBI Cards IPO? How to get SBI Cards IPO? How to book SBI Cards IPO? How to invest SBI Cards IPO? SBI Cards IPO kaise buy kare?

      Discuss this question

    3. 4. What is the listing date of SBI Cards IPO?

      SBI Cards IPO is going to be list on 16-03-2020. NSE Code for SBI Cards is SBICARDS.

      Other relevant questions:

      When SBI Cards IPO will be listing? SBI Cards IPO NSE listing date?SBI Cards IPO date of listing

      Discuss this question

    4. 5. When SBI Cards IPO will be allocated?

      SBI Cards IPO Allotment Date is 11-03-2020.

      Other relevant questions:

      SBI Cards IPO share allotment date?SBI Cards IPO allotment date?

      Discuss this question

    5. 6. When SBI Cards IPO will be open?

      SBI Cards IPO Issue Open Date is 02-03-2020.

      Other relevant questions:

      SBI Cards IPO start date? When SBI Cards IPO Open Date? When to invest in SBI Cards IPO?

      Discuss this question

    6. 7. When SBI Cards IPO will be close?

      SBI Cards IPO Issue Close Date is 05-03-2020.

      Other relevant questions:

      SBI Cards IPO end date? When SBI Cards IPO Close Date? Last Date to invest in SBI Cards IPO?

      Discuss this question

    7. 8. What is price of SBI Cards IPO for retail investor?

      SBI Cards IPO price for retail investor is ₹750-₹755. Company is also offering special discount for Employees ₹75.

      Discuss this question

    8. 9. What is lot size of SBI Cards IPO for retail investor?

      SBI Cards IPO lot size for retail investor is 19(1 Lot)(Min) and 247(13 Lots) (Max).

      Other relevant questions:

      SBI Cards IPO lot details? SBI Cards IPO market lot? SBI Cards IPO details lot size?

      Discuss this question

    9. 10. Can I invest in SBI Cards IPO via UPI?

      Yes, you can invest in SBI Cards IPO via UPI. If applying online, you can use UPI as well as ASBA. If applying through physical form, UPI is mandatory.

      Discuss this question

    10. 11. What is minimum amount retail investor need to apply for one application of SBI Cards IPO?

      To apply in one application of SBI Cards IPO you need ₹750-₹755(Issue Price) - Employees ₹75 (discount**) X 19(1 Lot) (Minimum Order Qty) =₹14345.

      * - Tentative Price

      ** - Applicable discount on specific category.

      Discuss this question

    11. 12. What is the shareholders cut-off date for SBI Cards IPO?

      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.

      Discuss this question

    12. 13. How to apply SBI Cards IPO under shareholder quota?

      The cut-off date for applying in SBI Cards Shareholder quota is 18 February, 2020 (RHP filing date). In case you are eligible for shareholding quota, you must apply minimum one application under shareholding quota. You can apply minimum 1 application in the retail category also. When you submit application online, you will find an option for shareholders as well as retail categories, both of your applications are valid. Try to apply in both the categories.

      Applying in Shareholding Quota - Up to Rs 2L, you can apply in Ratail Category also. If applying in Shareholding Quota above Rs 2L, you can not apply in Retail Category. To clarify, a SBI Shareholder Bidding in the SBI Shareholders Reservation Portion above Rs 2,00,000 cannot bid in the RII as such Bids will be treated as multiple Bids.

      Process of applying share under Shareholder category will be same (ASBA or UPI), you need to select category as shareholder. Shareholder Category Reservation is 13,052,680 Equity Shares.

      SBI Cards IPO Review and Important Updates

      How to download online application form for SBI Cards IPO?

      Discuss this question

    13. 14. What is SBI Card IPO RHP filing date?

      SBI cards IPO DRHP filed on Nov 26, 2019. The RHP filing date was 18th Feb 2020. This is also the cut-off date for shareholding quota.

      Discuss this question

    14. 15. What is SBI cards IPO size?

      SBI Cards expected size is 13,86,17,412 shares = 8563.20Crs. This is tentative information and will be confirmed after RHP filing.

      Discuss this question

    15. 16. How allotment will be done in SBI Cards Shareholder Quota?

      SBI Cards shareholding quota is going to be oversubscribed. In past IPOs, the cutoff date for shareholding quota was announced in DHRP. But in SBI Cards IPO, the cutoff date for the shareholders is 18th Feb 2020 (RHP filing date). This gave enough time for investors to add SBI share in their accounts. The allotment for Shareholders quota is done on a proportionate basis. In such case, you will sure shot get the shares, but the quantity will be depending on oversubscription value.

      For example:

      In Ujjivan IPO, those who applied in shareholder quota, get allotment as follows -
      Applied in Lot Alloted Shares
      1 lot (400 shares) 400
      2 lot 417
      3 lot 435
      4 lot 452
      5 lot 469

      By seeing the above scenario, we recommend to apply for atleast 1 lot under the shareholder category to get the most of your investment.

      Discuss this question

    16. 17. How much can I apply in SBI Cards IPO shareholders category only?

      According to RHP, If you are applying only in the Shareholders category, then you can apply any amount above Rs 200,000 subject to the maximum up to the reserved portion for the SH category. The allotment is going to be done on a proportionate basis.

      Discuss this question

    17. 18. what is the bidding limit for SBI Cards IPO in shareholders, retail and employee category?

      Individual Investor who is the SBI Shareholder and also the employee of SBI can bid in all three categories. The bidding limit will be as follows

      • Up to Rs 2,00,00 in Retail Category.
      • Up to Rs 2,00,000 in Shareholders Category.
      • Upto Rs 5,00,000 in Employee Category.

      Discuss this question

    18. 19. What is the criteria for SBI Shareholder to apply in multiple categories?

      • SBI Shareholders bidding in the SBI Shareholders Category above Rs 200,000 cannot bid in the Retail or Employee category.
      • SBI Shareholders bidding in the SBI Shareholders category up to Rs 200,000 can also bid in the Employee category as Eligible Employee and in the Retail category.

      Discuss this question

    19. 20. How to get maximum allotment in SBI Cards IPO?

      For retail investor, SBI Cards IPO can be applied in 2 categoriesShareholders Quota and Retail Quota. To get maximum allotment, one can try to get a minimum of 1 share of SBI before the cutoff date to apply in the shareholder category. Shareholder category allotment is going to be done via a proportionate basis. So if you are a shareholder in SBI, you are going to get shares for sure. The retail category is going to be decided by a lottery mechanism in case oversubscribe. To avail maximum allotment one needs to apply in both the category.

      • Retail Category – Up to ₹2 lakh.
      • Shareholders Category – Up to ₹2 lakh. Allotmentent in this category is going to be done on a proportionate basis.

      Discuss this question

    20. 21. Who are Book Running Lead Managers (BRLM) for SBI Cards IPO?

      The book running lead managers (BRLM) for SBI Cards IPO are Kotak, Axis, BofA Securities, Nomura, HSBC, and SBICAP.

      Discuss this question

    21. 22. What is the eligibility criteria for applying in SBI Cards Shareholders category?

      To be eligible for applying in the Shareholders category, individuals and HUFs should have at least one share of SBI in their Demat account on the date of18th Feb, 2020, which is the date of filing RHP with SEBI. The sole/ first bidder shall be a SBI Shareholder.

      Discuss this question

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    User Comments

    avatar
    25. Important Update  2/25/2020 1:56:04 PM Reply
    As per Emkay Global Financial Services, in the last four years, India''s credit card industry has more than doubled with the total number of cards reached 53 million. Despite impressive growth, the industry still remains under-penetrated hence, room for further growth.
    Rating agency, CRISIL further expects that the credit card industry of India will witness 23% CAGR and will be increase from $14 billion to $47 billion by 2024.

    avatar
    24. IPO GMP  12/12/2019 10:25:59 AM Reply
    SBI Cards IPO - Grey Market Premium as of 12-12-2019: 250-270
    avatar
    24.1. IPO GMP  12/14/2019 9:52:37 AM
    SBI Cards IPO - *GMP Estimated* 14-Dec-2019
    GMP 235 +/- 1
    Kostak 3400
    avatar
    24.2. IPO GMP  12/16/2019 9:56:54 AM
    SBI Cards IPO

    GMP 265 +/- 1
    Kostak 3700/- +/- 100
    avatar
    24.3. IPO GMP  12/19/2019 9:19:30 AM
    SBI Card GMPs 235 240 (Dec 19th 2019)
    avatar
    24.4. IPO GMP  1/1/2020 10:32:16 AM
    SBI Cards IPO - Grey Market Premium 237 - 242 @ 31-Dec-2019
    avatar
    24.5. IPO GMP  1/13/2020 9:00:37 AM
    SBI Cards IPO - GMP 240 to 245 (H:275 L:198), Kostak - 3300-3400 (H:3500 L:1200), Sabject to Sauda - 3800-3900 as on 12-Jan 2019
    avatar
    24.6. IPO GMP  1/22/2020 9:40:33 AM
    SBI Cards IPO - GMP (Grey Market Premium) 247 - 250 @ 21/Jan/2020
    After SEBI approval which is expected in 2 weeks, you will see a sudden move in GMP.
    avatar
    24.7. IPO GMP  1/28/2020 10:34:44 AM
    SBI Cards IPO - GMP 247 - 250 as on 28 Jan 2020
    avatar
    24.8. IPO GMP  2/7/2020 9:46:17 AM
    SBI Cards IPO - GMP 252 - 255 as on 05 Feb 2020. Expecting Approval from SEBI within a week.
    avatar
    24.9. IPO GMP  2/12/2020 8:19:13 PM
    Gmp 285-290.... application 3700 subjected to 4300 @12-Feb-2019
    avatar
    24.10. IPO GMP  2/20/2020 7:29:25 AM
    SBI Cards IPO GMP 315-320 as of 19-02-2020
    avatar
    24.11. IPO GMP  2/20/2020 10:11:20 AM
    SBI Cards IPO GMP: 294- 298 as on 20 Feb 2020 @ 10:00 AM
    avatar
    24.12. IPO GMP  2/22/2020 9:44:44 AM
    SBI Cards IPO GMP - GMP 314-317 as on [email protected] PM
    avatar
    24.13. IPO GMP  2/24/2020 2:23:24 PM
    SBI Cards IPO GMP - 326 - 329 as on 24 Feb 2020 @ 11:00 AM (STRONG BUY)
    SUBJECT TO SAUDA 5850 - 5950
    KOSTAK PRICE 4250 - 4350
    avatar
    24.14. IPO GMP  2/25/2020 8:48:37 AM
    SBI Cards IPO GMP 330-335 as on 25 Feb 2020
    avatar
    23. IPO Updates  2/24/2020 2:19:21 PM Reply

    SBI Cards IPO Details



    Issue Opens on: 02 March 2020
    Issue Closes on: 05 March 2020
    Issue Type: Book Built Issue IPO
    Issue Size: 13,71,49,315 Shares
    Face Value: Rs.10/- per Share
    Issue Price: Rs.750 – Rs.755 per Share (FINAL)
    Discount: Rs.15/- (for Employees)
    Market Lot: 19 Shares
    Listing At: NSE, BSE
    Equity Shares outstanding prior to the Issue= 93,23,34,278 Shares
    Employee Reservation of 18,64,669 Shares @740/- = Rs.137.99Crs (after discount of Rs.15/-)
    SBI Shareholders Reservation of 1,30,52,680 Shares @755/- = Rs.985.48 Crs (Discount – NIL)
    Net Offer for Sale of 11,56,09,450 @755/- = Rs.8,728.51Crs
    Fresh Issue of 66,22,516 @755/- = Rs.500.00Crs
    Equity Shares outstanding after the Issue = 93,89,56,765 Shares

    Category-wise Break up:


    Anchor: 3,66,69,590 Shares = 2,768.55Crs
    QIB: 2,44,46,393 Shares = 1,845.70Crs
    NII: 1,83,34,795 Shares = 1,384.28Crs
    RII: 4,27,81,188 Shares = 3,229.98Crs (Lot size:* 19 = 22,51,641 Forms)
    SBI Shareholders: 1,30,52,680 Shares = 985.48Crs
    Empl. Quota: 18,64,669 Shares = 137.99Crs (@740 per Share)
    Total Issue: 13,71,49,315 Shares = 10,351.98Crs

    SBI Cards IPO Tentative Date / Timetable



    Finalisation of Basis of Allotment: Mar 11, 2020
    Initiation of Refunds: Mar 12, 2020
    Credit of Shares to Demat Acct: Mar 13, 2020
    IPO Shares Listing Date: Mar 16, 2020
    avatar
    22. CA Sachin Jain  2/20/2020 3:10:22 PM Reply
    I am not sure this GMP price is going to be last longer. The IPO size is really big including retail quota. I assume moderate listing gain. It is not going to be next IRCTC IPO that is for sure. No dought growing business model.
    avatar
    21. SD RAJPUT  2/20/2020 9:24:45 AM Reply
    For Retail and Shareholder Category - SBI Cards IPO will be kept open for 4 days instead of 3 days.

    4th day will exclusive for Retail, HNI, and shareholders. Biding on the 4th day will be compulsory closed at 5 pm. No extension will be given as directed by SEBI.

    Individuals with SBI shares in their DP ACCOUNT Cut off date as on *18th Feb 2020 (the day RHP was filed)* can apply in both - Retail and shareholders category.

    HNI application can be made either of the one categories. So HNI subscription will get divided. Funding will be for 8 days this time as issue will be open for 4 days instead of 3 days.

    Record Date (Cut-Off date) for Share Holder category is *18-02-2020*
    avatar
    20. IPO Updates  2/20/2020 7:24:32 AM Reply
    SBI Cards IPO - Issue Information *(FINAL)*

    Issue Opens on: 02 March 2020

    Issue Closes on: 05 March 2020

    Issue Type: Book Built Issue IPO

    Issue Size: 13,71,49,315 Shares

    Face Value: Rs.10/- per Share

    Issue Price: Rs.750 - Rs.755 per Share (FINAL)

    Discount: Rs.15/- (for Employees)
    Market Lot: 19 Shares
    Listing At: NSE, BSE
    avatar
    19. Vinay Jain  2/20/2020 7:22:05 AM Reply
    Record Date for Share Holder category is 18-2-20.

    Individuals with SBI shares in their DP ACCOUNT as on 18th Feb 2020 (the day RHP was filed) can apply in both - Retail and shareholders category if the application amount is retail.
    avatar
    18. IPO Upates  2/14/2020 10:03:55 PM Reply
    SBI Card IPO Update as of 14th Feb 2020

    Final approval - Today late evening or coming Monday.
    RHP filling - On 21st +/- 1 day
    Anchor - 28/02/2020 +/- 1 day
    Size - 9500 cr +/- 500 cr
    Price - Rs 700 +/- Rs 25

    The above timeline is almost confirmed.

    Final announcement awaited.
    Also new is floating on EC:
    Update on Economic Times

    avatar
    17. IPO Updates  1/27/2020 7:55:05 PM Reply
    SBI Cards IPO - Schedule *(Tentative)* *(Revised)*

    28th Feb - Announcement of Price Band (Target is to make formal announcement within February)
    03rd Mar - Anchor Investors Allotment
    04th Mar - Offer Opens
    06th Mar - Offer Closes
    12th Mar - Finalisation of Basis of Allotment
    13th Mar - Unblocking of ASBA Accounts
    16th Mar - Credit of Equity Shares to Depository Accounts
    17th Mar - Commencement of Trading on NSE/BSE


    SBI Cards IPO - Issue Information *(Tentative)*

    Issue Opens on: 04 March 2020
    Issue Closes on: 06 March 2020
    Issue Type: Book Built Issue IPO
    Issue Size: 13,76,69,655 Shares
    Face Value: Rs.10/- per Share
    Issue Price: Rs.690 - Rs.700 per Share *(Tentative)* *(Revised)*
    Discount: Rs.10/- (for Employees)
    Market Lot: 21 Shares
    Listing At: NSE, BSE
    avatar
    17.1. IPO Updates  2/12/2020 8:16:46 PM
    SBI Cards IPO - Schedule *(Tentative)* *(Revised)*

    28th Feb - Announcement of Price Band (Target is to make formal announcement within February)
    03rd Mar - Anchor Investors Allotment
    04th Mar - Offer Opens
    06th Mar - Offer Closes
    12th Mar - Finalisation of Basis of Allotment
    13th Mar - Unblocking of ASBA Accounts
    16th Mar - Credit of Equity Shares to Depository Accounts
    17th Mar - Commencement of Trading on NSE/BSE


    SBI Cards IPO - Issue Information *(Tentative)*

    Issue Opens on: 04 March 2020
    Issue Closes on: 06 March 2020
    Issue Type: Book Built Issue IPO
    Issue Size: 13,76,69,655 Shares
    Face Value: Rs.10/- per Share
    Issue Price: Rs.690 - Rs.700 per Share *(Tentative)* *(Revised)*
    Discount: Rs.10/- (for Employees)
    Market Lot: 21 Shares
    Listing At: NSE, BSE
    avatar
    17.2. IPO Updates  2/14/2020 9:15:24 AM
    SBI Cards IPO - Schedule *(Tentative)* *(Revised)*

    28th Feb - Announcement of Price Band (Target is to make formal announcement within February)
    03rd Mar - Anchor Investors Allotment
    04th Mar - Offer Opens
    06th Mar - Offer Closes
    12th Mar - Finalisation of Basis of Allotment
    13th Mar - Unblocking of ASBA Accounts
    16th Mar - Credit of Equity Shares to Depository Accounts
    17th Mar - Commencement of Trading on NSE/BSE


    SBI Cards IPO - Issue Information *(Tentative)*

    Issue Opens on: 04 March 2020
    Issue Closes on: 06 March 2020
    Issue Type: Book Built Issue IPO
    Issue Size: 13,76,69,655 Shares
    Face Value: Rs.10/- per Share
    Issue Price: Rs.690 - Rs.700 per Share *(Tentative)* *(Revised)*
    Discount: Rs.10/- (for Employees)
    Market Lot: 21 Shares
    Listing At: NSE, BSE

    avatar
    16. Ashish Jain  2/12/2020 8:17:50 PM Reply
    SBI Card Outlook
    The use of credit cards is expanding in the country with circulation of credit card increasing to 48.9 million in May from 38.6 million (27%rise) in the last year. The total transaction value on credit cards has also gone up to 6 lakh crores in 2018-19 from 4.6 lakh crores in 2017-18 ( as per RBI data). This shows that credit card industry in India has substantial avenue for growth because of low penetration of credit cards in country which is again a positive for SBI Card. Also, SBI Card is growing by bringing in innovative products, cobranded partnerships and cashback programmes . Tapping the SBI customers for new card acquisitions lowers the credit risk, enhancing the credibility of portfolio. Hence investors might keep this IPO under lens for cashing in on the opportunity
    avatar
    16.1. Virendar Jain  2/13/2020 10:44:09 AM
    Thanks, Ashish Sir for this Info, Great analysis on this.

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