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.
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
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.
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*
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.
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
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
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
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
16.1.Virendar JainFeb 13 2020 10:44:09 AM
Thanks, Ashish Sir for this Info, Great analysis on this.
Ad www.AngelOne.in
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.