SBI Cards IPO Review

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

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SBI Cards IPO review covers all the information regarding the company like business, objective, strength, weakness, financials, IPO Price, important dates and much more. 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 for SBI shares in the demat account 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 or NII Category(above Rs 2L).
  • If the aggregate demand in this category is less than or equal to 13,052,680 Equity Shares at or above the Offer Price, full allocation shall be made to the SBI Shareholders to the extent of their demand.
  • If the aggregate demand in this category is greater than 13,052,680 Equity Shares at or above the Offer Price, the allocation shall be made on a proportionate basis.
  • SBI Shareholders Bidding under the SBI Shareholders Reservation Portion up to Rs 200,000 are entitled to Bid at the Cut-off Price.
  • Bidding will be made on prescribed Bid cum Application Form or Revision Form (Green color form).
  • SBI Shareholders bidding in the SBI Shareholders Reservation Portion up to Rs 200,000 can bid through the UPI mechanism, and above Rs 200,000 cannot bid through the UPI mechanism.

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.

    Please Note: An eligible SBI shareholder bidding in SBI shareholder reservation portion for bid amount below Rs. 2,00,000, can also bid under net offer i.e. either in Retail Individual Bidders Portion for upto Rs. 200,000 OR in Non-Institutional Bidders Portion above Rs. 200,000 but not exceeding the size of the Net Offer excluding QIB portion, subject to applicable limits.   

      Shareholders Reservation Portion Retail or NII Employee Reservation Portion
    Individual Investor Up to ₹ 2,00,000 Up to ₹ 2,00,000 in Retail or above ₹ 2,00,000 in NII 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 of ₹10 (aggregating up to ₹10,354.77 Cr)
    Offer for Sale 13,05,26,798 Shares (₹9,854.77 Cr)
    Fresh Issue 66,22,517 Eq Shares (₹500 Cr)
    Face Value ₹10 Per Equity Share
    IPO Issue Price ₹750-₹755
    IPO Discount Employees ₹75
    Market Lot 19 Shares
    Min Order Qty 19 shares (1 Lot)
    Max Retail Qty 247 Shares (13 Lots)
    Promoter Holding Pre IPO 74%
    Promoter Holding Post IPO 69.51%
    IPO Listing At BSE, NSE
    BSE Code 543066
    NSE Code SBICARDS

SBI Cards IPO Live Subscription (NSE + BSE)

The table below is live update of IPO bidding details from NSE and BSE.

  • Qualified Institutional Buyers - 24224003
  • Non-Institutional Investors - 18341418
  • Retail Individual Investor - 42796641
  • Employees Quota - 1864669
  • Shareholders and Other Quota - 13052680
IPO Bidding Updates (BSE + NSE) Live
DayDateQIBNIIRIIEMPOtherTotal
242240031834141842796641186466913052680100279411
12nd Mar 2020 17:020.0009x0.1229x0.6236x0.8026x0.6889x0.3934x
23rd Mar 2020 17:020.214x0.4729x1.2124x1.8418x1.4063x0.8729x
34th Mar 2020 17:0257.1847x2.1893x1.7701x3.2916x3.5428x15.4921x
45th Mar 2020 18:4757.1847x45.227x2.5x4.7408x25.3557x26.5414x

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 Recommendations

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 >>Link

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]
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 2020-03-15T23:19:01+00:00

    SBI Cards IPO FAQs

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

      Zerodha allows to apply online in IPOs via their back office software "console". UPI payment mode is to be used to apply online through Zerodha. To purchase SBI Cards IPO with Zerodha, you must be Zerodha customer and have UPI payment setup. For more details please visit detailed 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 IPOs 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 Securities, ICICI Direct, AxisDirect are 3-in-1 brokers provide you direct IPO investment.

      Online Application2-in-1 Trading Account

      Brokers like Zerodha, TradeSmart Online provides 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. Most of the Syndicate Banks provide 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 maximum 5 application from one bank account. However, ICICI, HDFC bank have limit of one IPO ASBA application per account.

      Offline ApplicationPhysical Form

      You can apply in SBI Cards IPO via physical form, but not with ASBA. Physical Forms need to be filled using 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. 3. How to download online application form for SBI Cards IPO?

      Applying in SBI Cards IPO is very easy and quick process via ASBA. You can use your net banking user id and password to apply in IPO. In case you want to submit physical application, you can download SBI Cards IPO application online and submit to the nearest bank or to your broker. With new mandate from SEBI, all physical application need to use UPI mode of payment. In such case you have to setup UPI and provide your UPI information in physical application. Once your bank receives your application they will use UPI ID to block your money. You will get UPI mandate and need to approve the same to submit your application.

      For more details on how to use UPI payment method to apply SBI Cards IPO, please refer article >> Link

      SBI Cards IPO Review and Important Updates

      Steps to download the online application form for SBI Cards IPO

      • Step1:Click here.
      • Step2: Click on “Bid-cum Application Form Download
      • Step3: Above Step will open an online form.
      • Step4: Enter your Name, PAN, DP Type, DP Information, UPI No, Bank information (Do not enter), Address, email, phone, Transaction Type - "ASBA".
      • Step5: Fill bid details - min 19 Shares and max 247 Shares (13 Lots).
      • Step6: Now fill the character given in Box, read and agree on terms and conditions and click on the download button.
      • Step7: This will fill your application online and give you a pdf file.
      • Step8: Take a print of this document and go to your bank for UPI transactions.
      • Or

      • You can download “Blank Application Form Download” and fill all the required filed and submit to the nearest bank for UPI transaction.

      Other relevant questions:

      How to fill SBI Cards IPO form? How to fill SBI Cards IPO form online? SBI Cards IPO online form? SBI Cards IPO online form fill up? SBI Cards IPO blank form download? SBI Cards IPO bid form? SBI Cards IPO full form? SBI Cards IPO form nse? SBI Cards IPO form bse? SBI Cards IPO form online? SBI Cards IPO form print? SBI Cards IPO application amount?

      Discuss this question

    4. 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. BSE Code for SBI Cards is 543066.

      Other relevant questions:

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

      Discuss this question

    5. 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

    6. 6. When SBI Cards IPO will 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

    7. 7. When SBI Cards IPO will 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

    8. 8. What is the 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

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

      SBI Cards IPO lot size for retail investor is 19 shares (1 Lot)(Min) and 247 Shares (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

    10. 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

    11. 11. What is the minimum amount retail investor need to pay 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 shares (1 Lot) (Minimum Order Qty) =₹14345.

      * - Tentative Price

      ** - Applicable discount on specific category.

      Discuss this question

    12. 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

    13. 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 the 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 also apply in Retail Category (up to Rs 2L). If applying in Shareholding Quota above Rs 2L, you can not apply in Retail Category. To clarify, an 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 shares 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 Shareholder Quota Subscription Updates

      • Day 1 - Shareholder Quota 69%
      • Day 2 - Shareholder Quota 112%(Over-subscribed)%




      SBI Card IPO Investment through ICICIDirect



      SBI Card IPO Investment through Zerodha

      In case you applying through Zerodha, it allows only one application. They have option for Retail and Shareholding application, but you can apply only in one category. If you wish to apply in multiple categories, you can submit one application with Zerodha Console and other application from ASBA (Net Banking). Other option is to apply only via ASBA. SCSBs provides 3 different applications for categories - Retail, Shareholder and Employee. Depending on your investment strategy, you can fill multiple applications.


      HDFC Bank ASBA Application for SBI Cards IPO


      SBI Cards IPO Review and Important Updates

      How to download online application form for SBI Cards IPO?

      Discuss this question

    14. 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

    15. 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

    16. 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.

      SBI Cards Allotment Status

      Discuss this question

    17. 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

    18. 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

    19. 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 or NII category.
      • SBI Shareholders bidding in the SBI Shareholders category up to Rs 200,000 can also bid in the Employee category (< Rs 5,00,000) as Eligible Employee and in the Retail category (< Rs 2,00,000) or NII category( > Rs 2,00,000).

      Discuss this question

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

      This is the recommendation for SBI Cards IPO Application with the same PAN Number, same Demat account and same bank through the ASBA process.

      In Retail Category –

      1. Up to 2 lakh in RII or above 2 lakh in NII

      Recommendation

      • If planning to apply below Rs 2 lakh, apply one lot in the retail category. As per market sentiments, the retail category is going to over-subscribe, in that case, allotment is going to be done on a lottery basis. You can take a final call on the last date by seeing the oversubscription report.
      • NII category – Allotment is going to be done on a proportionate basis, apply as per your fund availability.

      In Shareholders Category –

      1. Up to Rs 2 Lakh under shareholder + up to 2 lakh in RII or above 2 lakh in NII.
      2. Above Rs 2 L in shareholders category (can’t apply in RII or NII).

      Recommendation

      • The shareholder's category is also going to be oversubscribed (as per market sentiments). The allotment is going to be done on a proportionate basis. So we recommend the 1st approach is going to be more beneficial.

      In Employee Category –

      1. Up to Rs 5 lakh in Employee + up to 2 lakh in RII or above 2 lakh in NII.
      2. Up to Rs 5 lakh in Employee + up to Rs 2 lakh in shareholders + up to 2 lakh in RII or above 2 lakh in NII.
      3. Above Rs 2 L in shareholders (can’t apply in RII or NII and Employee category).

      Recommendation

      • For employees, we suggest 1st or 2nd approach. Try to utilize the maximum amount (up to Rs 5 lakh) in Employee Quota as you will get Rs 75 discount per share, the other two categories are optional. In case you have fund availability use the retail category also (one lot only).

      Discuss this question

    21. 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

    22. 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

    23. 23. How to invest in SBI Cards IPO to get the maximum allotment in retail and shareholders category?

      For retail investor and eligible shareholder, SBI Cards IPO can be applied in 3 ways

      • Shareholders Quota (<₹2 lakh) and Retail Quota (<₹2 lakh) or
      • Shareholders Quota (<₹2 lakh) and NII Quota (>₹2 lakh) or
      • Only Shareholders Quota (>₹2 lakh). This will be considered as multiple bid so cannot bid in Net Offer.

      To get maximum allotment, one can try to get a minimum of 1 share of SBI in his demat account 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.

      Allotment in Shareholders category is going to be as follows:

      • If the category is under-subscribed at or above the Offer Price, full allocation will be made to the SBI Shareholders to the extent of their demand.
      • If the category is over-subscribed (which will be the case seeing the current scenario), the allocation shall be made on a proportionate basis.

      Keeping this in mind, SH bidders will get shares for sure on the proportionate basis. So one can bid 13 lots in SH category and 13 lots in Retail category or above 13 lots in NII category to get the maximum benefit of allotment. Each category has to be applied by a separate application.


      After Day 3 Subscription Number – Strategy for SBI Cards IPO

      Day 3- Retail category is over-subscribed, one extra day for retail users, we are assuming retail will over-subscribe by min 3 to 5x. So it’s sure that there will be a lottery. In such a case, we personally suggest applying 1 lot in retail category.

      Day 3- Shareholders category is over-subscribed. Still 1 more days to go, we are assuming Shareholder quota will over-subscribed by min 5 to 7x. As per RHP, allotment is going to be done via a proportionate basis. If that holds good, you will get some shares for each lot.

      QIB is over-subscribe by 57x and NII - HNI is also over-subscribe and going to get good volume tomorrow.

      Things are not 100% clear, but if you wish to invest in retail and shareholder category - the best approach after day 3 is 1 lot (19 shares) in retail and up to 13 lots in shareholder quota. In that case, you may or may not get the retail lot because of the lottery but you will get some shares in SH quota, numbers will depend on how much time it's over-subscribed after day 4 and allotment strategy.

      Discuss this question

    24. 24. Can I bid at the cut-off price in the Shareholders Category?

      Only Retail Individual Bidders, Eligible Employees under the Employee Reservation Portion and SBI Shareholders under the SBI Shareholders Reservation Portion bidding up to Rs 200,000 are entitled to Bid at the Cut-off Price.

      SBI Shareholders applying for the Bid Amount above Rs 200,000 under the SBI Shareholders Reservation Portion, QIBs (including Anchor Investors) and Non-Institutional Investors are not entitled to Bid at the Cut-off Price.

      Discuss this question

    25. 25. 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

    26. 26. What is the maximum amount to invest in Retail category for SBI Cards IPO?

      The maximum amount to invest in retail category is 13 lots of 19 shares each i.e. 247 shares * Rs 755 (cut-off price)

      • Maximum Amount 247 * 755 = Rs 186,485
      • Minimum Amount 19 * 755 = Rs 14,345

      Discuss this question

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    User Comments

    avatar
    44. Vinay Jain  3/12/2020 1:11:26 PM Reply
    avatar
    44.1. CA Sachin Jain  3/12/2020 1:39:26 PM
    Got 5 retail out of 5 application, SH - 3 application (13 lot each) - 1 lot received.
    avatar
    43. Ipo status  3/11/2020 11:43:25 PM Reply
    avatar
    42. Vinay Jain  3/11/2020 2:43:51 PM Reply
    SBI Cards Allotment Status will be available shortly.

    Shareholder 23.31 ratio.


    Sbi basis 66 out of 79 in retail.

    avatar
    41. Lalit Mohan Joshi  3/5/2020 11:20:35 AM Reply
    SBI CARDS AND PAYMENT SERVICES LIMITED - QIB data on the BSE website is showing zero, have they withdrawn all the applications. Please confirm on priority.
    avatar
    41.1. Vinay Jain  3/5/2020 11:23:38 AM
    Looks like some data issues with the BSE website, QIBs can't withdraw or modify their application as per SEBI guidelines.
    avatar
    40. Rajat Khandelwal  3/5/2020 10:57:24 AM Reply
    I applied in the Shareholding category from Zerodha. I wanted to apply in the Retail category also but the Zerodha IPO application is not allowing me to submit another application. It is only showing the "Modify Bid" option. Kindly help.
    avatar
    40.1. Jitendra kumar  3/5/2020 10:59:14 AM
    Hi Rajat - Zerodha is allowing only one application at this point, please apply second application from ASBA Net Banking.
    avatar
    39. Vinay Jain  3/4/2020 7:23:33 PM Reply
    Record number of QIB inflows of IPO issues in India
    SBI Card 104000 cr
    HDFC AMC 93000 cr
    DMART 55000 cr
    Bandhan B 35000 cr
    IRCTC 34500 cr
    avatar
    38. Amaresh kumar  3/4/2020 11:35:40 AM Reply
    avatar
    37. Siddharth  3/3/2020 12:19:44 PM Reply
    Can an SBI Life shareholder apply under the shareholder category of SBI Cards IPO?
    avatar
    37.1. team Topsharebrokers  3/3/2020 12:22:41 PM
    No. Only SBI shareholders can apply in SH category.
    avatar
    36. Abhishek Vala  3/2/2020 10:52:34 PM Reply
    Due to uncertain market conditions, I advise members to apply for sbi cards on the last day.

    First, see QIB data and analyze it.

    GMP is falling
    avatar
    35. Vinay Jain  3/2/2020 8:05:34 PM Reply
    SBI Cards Updates after 1st day -

    Record-breaking 8.52 lakh applications on Day 1. Overall 39% subscribed (nearly Rs 3000 crore on Day 1). Retail portion subscribed 62%; Shareholder subscribed 69% on Day 1. Bid closes on 4th March for QIBs and 5th March for Retail/HNI/ Others

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