SBI Cards user comments & discussion

User Reviews

4. IPO Potter Dec 07 2019 11:48:20 AM Reply

Equitas Small Finance Bank ltd has approved sale of 4,74,58,239 equity shares of Rs 10 each at a price of Rs 52.68 per equity share aggregating to Rs 250 crore, by private placement to investors. Shall amount to a stake of 4.51% in the post issue share capital of the Bank. Grey Market activity taking place near about 24-25 now. IPO is expected in mid Jan 2020.

3. IPO Guru Dec 06 2019 10:20:25 AM Reply

SBI Cards IPO - Important Dates *(Tentative)*

15th Jan 2020 - Announcement of Price Band
17th Jan 2020 - Anchor Investors Allotment
20th Jan 2020 - Offer Opens
22nd Jan 2020 - Offer Closes
27th Jan 2020 - Finalisation of Basis of Allotment
28th Jan 2020 - Unblocking of ASBA Accounts
29th Jan 2020 - Credit of Equity Shares to Depository Accounts
30th Jan 2020 - Commencement of Trading (Target is to List before Budget date)

SBI Cards IPO - Issue Information *(Tentative)*

Issue Opens on: 20 January 2020
Issue Closes on: 22 January 2020
Issue Type: Book Built Issue IPO
Issue Size: 13,86,17,412 Shares
Face Value: Rs.10/- per Share
Issue Price: Rs.615 - Rs.618 per Share *(Tentative)* (Revised)
Discount: Rs.18/- (for Employees)
Market Lot: 24 Shares
Listing At: NSE, BSE

SBI Cards IPO - Detail

Equity Shares outstanding prior to the Issue=93,23,34,278 Shares
Employee Reservation of 18,64,669 Shares @600/-=Rs.111.88Crs (after discount of ~3%)
SBI Shareholders Reservation of 1,30,52,680 Shares @618/-=Rs.806.66 Crs (Discount - NIL)
Net Offer for Sale of 11,56,09,449 @618/-=Rs.7144.66Crs
Fresh Issue of 80,90,614 @618/-=Rs.500.00Crs
Equity Shares outstanding after the Issue=94,04,24,892 Shares

SBI Cards IPO - Category-wise Break up

Anchor - 3,71,10,019 Shares=2,293.40Crs
QIB - 2,47,40,012 Shares=1,528.93Crs
NII - 1,85,55,010 Shares=1,146.70Crs
RII - 4,32,95,022 Shares=2,675.63Crs (Lot size: 24=18,03,959 Forms)
SBI Shareholders - 1,30,52,680 Shares=806.66Crs
Quota - 18,64,669 Shares=111.88Crs (@600 per Share)
Total Issue - 13,86,17,412 Shares=8563.20Crs.

SBI Cards IPO - GMP Calculation

Subscription required for 1X

RII=18,03,959 Forms
NII=1,146.70Crs

SBI Cards IPO - *Market's Current Estimates of oversubscription*:

RII=30.00L Forms=1.66X Applic. wise (Avg allotment of ~14.43 shares per lot)
NII=80.0K Crs.=~69.77X

Interest cost @9.00%p.a. for 7days=106.67paise for 1X

Thus, for NII the costing=69.77 X 106.67paise=Rs.74.42 per share (=GMP)

And, for RII the costing=14.43 X 74.42=Rs. ~1218(=Kostak)

SBI Cards IPO - *GMP Estimated*
GMP 75 +/- 1

3.1. Ajit Singh Dec 06 2019 10:39:48 AM

Great information IPO Guru Sir, Thx for Update. Can I buy share today to avail SBI Shareholders Reservation?

2. Sachin Dad Dec 05 2019 01:55:03 PM Reply

What is the record date for SBI shareholders?

2.1. IPO Potter Dec 05 2019 03:02:19 PM

The date is not yet announced, you have change to add SBI shares to participate in SBI Cards Shareholders quota. Usually, the record date is the date when RPH files.

2.2. AMIT KUMAR GUPTA Dec 06 2019 09:28:08 AM

As per page no-56 and 404 DRHP, the cutoff date for the Shareholder category is the date of submission of Red Hearing Prospectus. This has changed recently after the Ujjivan IPO response. Going f/w, this will be a standard practice.

1. Pinakin sutariya Dec 06 2019 09:23:44 AM Reply

The cutoff date for the Shareholder category is the date of submission of Red Hearing Prospectus.
Still, RHP is not filed, you can buy SBI shares to participate in Shareholder Quoya - 100% eligible.