SBI Card IPO to hit the market by February End: Moneycontrol

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As per the latest news on SBI Card IPO, the investors will be a delight to see the SBI Card IPO to hit the market in February end as per the Moneycontrol reported.

The offer for sale of SBI Card IPO to include up to 3,72,93,371 equity shares by SBI and up to 9,32,33,427 equity shares by CA Rover Holdings. The SEBI gave their in-principle approval for the IPO to SBI Cards and Payment Services. The company is a subsidiary of the State Bank of India.

The SBI Card IPO might be around 5,500-6,000 crore as the company valuation is approximately  Rs 55,000-60,000 crore. The IPO date might be in February end or might be in early March 2020. After the approval, the SBI Card IPO GMP goes up with Kostak and Subject to Sauda.

Moneycontrol was the first to report the IPO last September 2019. As per the DRHP, the IPO comprises a fresh issue of Rs 500 crore and an offer for sale of up to 13,05,26,798 equity shares. Check out more details about SBI Card IPO.

SBI Card IPO Dates & Price Band:

 IPO Open: 02 March 2020
 IPO Close: 05 March 2020
 IPO Size: Approx ₹10355 Crore (Approx)
 Face Value: ₹10 Per Equity Share
 Price Band: ₹750 – ₹755 Per Share
 Listing on: BSE & NSE
 Retail Portion: 35%
 Equity: 13,71,49,315 Shares
 Discount: ₹15 Per Shares for Employees

SBI Card IPO Market Lot:

 Lot Size: Minimum 19 Shares & Maximum 247 Shares
 Minimum Amount: ₹14345
 Maximum Amount: ₹186485

SBI Card IPO Allotment & Listing:

 Basis of Allotment: 11 March 2020
 Refunds: 12 March 2020
 Credit to Demat Account: 13 March 2020
 Listing Date: 16 March 2020
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