SBI Cards and Payment Services (SBI Cards), a subsidiary of State Bank of India (SBI), has set a price band of Rs 750-755 per share for its initial public offering (IPO). At the top end, the issue size works out to Rs 10,355 crore ($1.4 billion), making it the largest Asian IPO in 2020 and fourth-biggest domestic IPO.
The IPO will comprise Rs 500 crore worth of fresh equity issuance, which will be used to strengthen the country’s second-largest credit card company’s capital base. The bulk of the IPO will be a secondary share sale by parent SBI and
SBI Cards IPO: Price band fixed in the range of Rs 750 to Rs 755 per share
At issue size of Rs 10,355 cr, the offering will be Asia's biggest this year and fourth-largest domestically
 "This decade-old Sebi guideline is holding up much-awaited SBI Cards IPO")
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The bulk of the IPO will be a secondary share sale by parent SBI and private equity (PE) major Carlyle. | Representative Image
Topics : SBI Cards IPO State Bank of India
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