SBI Card IPO:- Dear Readers, Today we are back with another investment plan. We will share full details about SBI Card IPO. Here you will know SBI Card IPO Open or Close Date, Share Bid Price, Lot Size and many more things. So keep reading this post till the end to know full details of SBI Card IPO and invest.
SBI Card IPO
The subsidiary of State Bank of India (SBI), SBI Cards and Payment Services Limited is the second-largest credit card issuer in India. SBI Cards and Payment Services was promoted by State Bank of India on May 15, 1998, to issue credit cards and deal in payment products. Apart from an issue of fresh shares in the IPO, SBI will be selling a part of its promoter holdings. The Carlyle Group, which had taken up a stake in SBI Cards in December 2017, will also be offering a part of its stake in the issue.
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Currently, with an 18% market share, SBI Cards is the second-largest credit card issuer. SBI holds 76% shares in the company while the Carlyle Group holds the remaining 24% shares. For the half-year ended September 30, the company’s revenue was Rs 4,677.20 crore while its net income was Rs 725.88 crore.
The issue size works out to be Rs.10,355 crores, making it the fifth-biggest domestic IPO. The company is rated AAA and A1+ by rating firms CRISIL and ICRA.
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SBI Card IPO Details-
|1||Issue Open On|
2 March 2020
|Issue Close On||5 March 2020|
|Market Cap||Rs.70891 Cr|
NSE & BSE
|Finalization of the basis of allotment||On or Before 11 March 2020|
|13||Initiation of Refunds|
On or Before 12 March 2020
|The credit of Equity Share||On or Before 13 March 2020|
On or Before 16 March 2020
SBI Shareholder Reservation in SBI Cards IPO
Investors who hold SBI shares on the 18th February 2020(the date of filing RHP with SEBI) are eligible to apply under the shareholder category of SBI Card IPO. As per our RHP, The SBI shareholder can apply above the Rs.2 lakh and maximum up to the reserved portion for the SH category. SBI shareholders (bidding up to 2 lacs) can also apply under the retail category.
Further, if an SBI shareholder is also an SBI employee, he/she is also eligible to apply in all the three categories- RIL, shareholders, and employees.
How do I apply to the SBI Cards IPO in Zerodha?
You can apply for an IPO through Zerodha using any supported UPI app. Once you install the BHIM UPI app (latest version) and register your UPI ID, follow the below steps to apply for IPOs:-
- Login to Zerodha Console and select ‘IPO’ in the ‘Portfolio’ menu.
- Select the IPO you want to apply for from the list of open issues.
- Enter your UPI ID and click on ‘verify’. The UPI ID is checked to confirm it’s validity. However, we will not be able to check the details of the bank account mapped to the UPI ID. You should make sure this UPI ID is mapped to your personal bank account. The IPO application is liable to get rejected if the person who is applying is different from the one whose bank account is used to apply.
- Place your bid(s). Select the investor type for your application. While placing the bids, only quantity that is a multiple of the lot size is allowed. If you wish to apply at the cut-off price, simply click on the checkbox next to ‘Cutoff-price’. If you want to place a bid at a different price, you can do so by entering a price in the ‘Price’ field:
- Once you’ve completed all these steps, click on the checkbox to confirm that you have read the RHP and other documents and click on submit:
- Accept mandate request on your BHIM UPI App:
At the end of the day after submitting the IPO bid, you will receive an SMS from the exchange confirming your application. Meanwhile, to check the status of your order you can select the IPO you have applied for and you’ll be able to see the last updated bids in your application.
How to apply for SBI Card IPO on 5paisa?
SBI Cards IPO application can be done through banks using ASBA online. 5paisa also offers application service using BHIM UPI, below is the process. If you have not 5paisa account then read a post- 5Paisa Refer Loot- Get Rs.200 Amazon Gift Card On Sign Up
- Login to 5paisa App/Dashboard
- You can directly select the ‘IPO’ from the quick menu on the right-hand side of the Trade Station web page.
- Select your preferred IPO listed under the current IPO section.
- Fill in your Bid Details like bid quantity, price, and your BHIM UPI ID
- Click on the Apply Now button to apply.
- Authorize your transaction via BHIM UPI App (you will get a notification on authorization via BHIM UPI App or you may directly go to BHIM UPI App and authorize application).
- You will get an SMS updating you on your application status (If rejected you can still apply again).
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Competitive Strength SBI Card IPO-
- 2nd Largest Credit Card Holder issuer in India with a strong track record of growth and profitability.
- Leading players in open market customer acquisition using physical and digital channels in India
- A well-known promoter in SBI with strong brand recognition.
- Diversified Credit Card portfolio and partnership with a leading brand across industries.
The objective of the Issue-
- The Offer for Sale- The object of the offer for sale is the allow the selling shareholders to sell an aggregate of up to Equity share held by them. The company will not receive any proceeds from the offer for sale.
- Fresh Issue- The net proceeds of the fresh issue, i.e. Gross proceeds of the fresh issue less the offering expense apportioned to the company are proposed to be utilized for augmenting the capital base to meet the company’s future requirements.
Financial of the SBI Card IPO Company –
|(In Crores)||FY 17||FY 18||FY 19||FY 20 (31 Dec 2019)|
SBI Card IPO Registrar
C 101, 247 Park, L.B.S.Marg, Vikhroli (West), Mumbai – 400083
Phone: +91-22-4918 6270
Company Contact Information
Unit 401 & 402, 4th Floor, Aggarwal Millennium Tower E-1,2,3, Netaji Subhash Place, Wazirpur, New Delhi.
Phone: +91-080-2561 7486