SBI Cards IPO: Allotment of shares finalised, steps to check status

The SBI Cards IPO is one of the largest share sale in recent times, both in terms of size and oversubscription

The allotment of shares for the SBI Cards and Payment Services initial public offering (IPO) was finalised on Thursday. The SBI Cards IPO, open between March 2 and March 5, had been oversubscribed 26 times, which meant not all those who bade were to receive shares and the allotment was to be done through a lottery system. The allotment status has been updated for clients to check on the website of the ‘registrar to the offer’, which in this case is Link Intime India Private Ltd. You can check the number of shares you applied for and the number of shares you have been allotted on the Link Intime’s website.

Here's how to check the status

— To check allotment status, applicants of the offer have to visit the Link Intime India website
— Because of high interest in the IPO, the site has three links for checking the IPO allotment status
— Select SBI Cards and Payment Services when asked to select the company
— You can check the status by entering either your PAN, or application number, or DP/Client ID
— Click on submit and view allotment status

One of the most-awaited public offers of 2020, SBI Cards IPO open on March 2 and closed on March 5. It was subscribed 26.54 times overall – 45.22 times in the non-institutional investor (high-networth individual) quota, and 2.5 times in the retail segment. There was a 4.73 times subscription seen in the portion reserved for SBI employees, and 25.35 times in that for people already holding SBI shares.
 
Shares of SBI Cards and Payments will be listed on March 16, 2020.
 
The IPO comprises Rs 500 crore worth of fresh equity issue and a total dilution of around 14 per cent through the offer for sale (OFS) route.
 
The company aims to raise Rs 10,355 crore through this IPO. It has already raised Rs 2,769 crore from 74 anchor investors, including 12 mutual funds. Currently, SBI holds a 76 per cent stake in SBI Cards, and the rest is held by CA Rover Holdings, an affiliate of the Carlyle group.