SBI Cards set to launch Rs 9,500-cr IPO this month, subject to Sebi nod

The issue will comprise an offer for sale of about 131 million shares of existing shareholders - SBI and CA Rover

SBI Cards and Payment Services, the credit card arm of State Bank of India (SBI), is set to hit the market with its initial public offering (IPO) this month if it gets the nod from the Securities and Exchange Board of India (Sebi), the regulator.
 
The company, which filed its offer document with the regulator in November, is expected to get Sebi’s observation letter soon, said people in the know.
 
The company is targeting a mop-up of Rs 9,000-9,500 crore from the share sale, with a fresh issue size of around Rs 500 crore.
 
The issue will