JM Financial, Edelweiss Financial Services and IIFL Securities are managing the offer
The 2019 operating guidelines for FPIs also prescribe a separate registration for proprietary derivative investments and ODI activities of an FPI
The IPO comprises a fresh issue of Rs 500 crore and an offer for sale of 13,05,26,798 equity shares
The SBI Cards IPO will be a test for investor appetite, which has been battered by the coronavirus outbreak.
The price band for the IPO is Rs 295 to Rs 300 per share. At the IPO price, the firm is valued at Rs 800 crore
Siddharth Purohit of SMC Global Securities believes that given the stable RoE of 30% valuation, in terms of P/E ratio is likely to come down to 31x and 22x in FY21 and FY22, respectively from 43x.
No multi-bagger like IRCTC, but can deliver 50% listing gains, says Ambareesh Baliga, an independent market expert
At issue size of Rs 10,355 cr, the offering will be Asia's biggest this year and fourth-largest domestically
Normally, IPOs are open for subscription for three days but SBI Cards IPO will run for four days. The first three days, i.e. from March 2 to March 4, the issue will be open for all bidders
Market sources said the IPO size will be worth Rs 700 crore
Promoters SBI and Carlyle Group will offload 3.73 crore shares and 9.32 shares respectively
SBI Cards is the second-largest credit card issuer in India, with an 18.1 per cent market share of the market as of November 2019
The company plans to issue new shares worth Rs 500 crore and will offer up to 130.5 million shares for sale
Khuntia also asked insurance companies to "weed out" loss-making products and concentrate only on the better paying ones
The proposed listing will help the government in achieving its disinvestment target of Rs 2.1 trillion for 2020-21
All India UTI AMC Officers' Association approaches Sebi, says draft prospectus does not highlight contingent liabilities
The entire IPO would be offer-for-sale (OFS), wherein existing shareholders will sell NSE's shares
The shares of the company are proposed to be listed on the BSE and NSE
The IPO closes on Tuesday
Share offer saw huge demand despite concerns over weakness in secondary market, pricing of shares