SBI Cards IPO subscribed 26 times despite tough market conditions

SBI Cards and Payment Services’ initial public offering (IPO) has managed to attract bids worth Rs 2 trillion, in spite of challenging market conditions. This has made it among the most subscribed offerings in absolute terms.
 
The 100-million share offering generated close to 2.7 billion bids (26x). The high networth individual (HNI) portion of the IPO was subscribed 44x, with the retail portion being subscribed 2.5x.
 
The employee segment registered 4.7x subscription, while the shareholder category was subscribed 25x — making it a rare instance in which the employee and shareholder segments garnered higher subscription than the retail