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SBI Cards IPO subscribed 2.51 times so far on third day of bidding

The initial public offer (IPO) received bids for 25,12,78,800 shares against the total issue size of 10,02,79,411 shares, as per NSE data till 1200 hrs

Press Trust of India  |  New Delhi 

This decade-old Sebi guideline is holding up much-awaited SBI Cards IPO
SBI Cards expects to raise around Rs 10,355 crore through the IPO

The initial public offer of and Payment Services was subscribed 2.51 times so far on the third day of bidding on Wednesday.

The initial public offer (IPO) received bids for 25,12,78,800 shares against the total issue size of 10,02,79,411 shares, as per NSE data till 1200 hrs.

The comprises a fresh issue of Rs 500 crore and an offer for sale of 13,05,26,798 shares including anchor portion of 3,66,69,589 shares.

Price range for the offer has been fixed at Rs 750-755 per share.

expects to raise around Rs 10,355 crore through the

The company has raised Rs 2,769 crore from 74 anchor investors.

For qualified institutional buyers (QIB) the issue will close on Wednesday and for all other bidders it will close on Thursday.

Kotak Mahindra Capital Company, Axis Capital, DSP Merrill Lynch, HSBC Securities and Capital (India), Nomura Financial Advisory and Securities (India) and SBI Capital are the managers for the offer.

State Bank of India holds 76 per cent stake in SBI Cards, while the rest of the stake is held by Carlyle Group.

First Published: Wed, March 04 2020. 12:54 IST
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