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SBI Card IPO: YES Bank clients asked to pay using different bank account

Nearly Rs 1,500 crore worth of bids in the IPO have come from YES Bank accounts

Shrimi Choudhary & Samie Modak  |  Mumbai 

Investors who have applied for SBI Cards’ initial public offering (IPO) have been given allotment with the condition that they will make the payment using a different bank account before Friday, said people in the know. This ends the uncertainty on whether YES Bank’s clients would be considered for allotment, in light of the 30-day moratorium imposed by the Reserve Bank of India.

The allotment for the Rs 10,300-crore share sale was finalised on Wednesday. Nearly Rs 1,500 crore worth of bids in the IPO have come from YES Bank accounts. A bulk of these allotments were made by ...

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First Published: Wed, March 11 2020. 21:37 IST
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