SBI Card IPO, Category Wise Subscription Process:
To begin with, the SBI Cards and Payments Services, which has managed by State Bank of India IPO Subscription period open on March 2. The SBI Card IPO aims to raise around Rs 10,341 cr from this initial public offering.
The company offered shares for sale is 13.71 cr equity shares in the subscription period. Also, the price band between Rs 750 and Rs 755 per eq share. The IPO lot size is 19 shares for a minimum amount of investment worth of Rs 14,250.
Moreover, the company allotted different share ratios for its 6 categories such as anchor investors, QIBs, NIIs, RIIs, SBI shareholders, and employees.
SBI Card IPO allocated shares for its 6 categories:
In this IPO, the qualified institutional investors can also invest throw this anchor investors category. The investors need to invest a minimum application amount of Rs 10 cr in this category. Moreover, the company allocated around 3,66,69,590 of equity shares fro anchor investors.
Qualified Institutional Buyers:
The mutual funds, insurance companies, global portfolio managers, registered FIIs can invest through this QIB category. Moreover, Sub-accounts of FIIs, Sovereign funds, endowment funds, college superannuation funds also included in these investors. Also, the company allotted 2,44,46,393 shares for the QIB category.
The minimum amount of investment should be Rs 2 lakh per application for, corporate, private limited companies. And the company allocated around 1,83,34,795 eq shares.
The SBI Cards Services allocated around 4,27,81,188 eq shares for Retail investors. Along with the minimum amount of investment of Rs 2 lakh per application. The company plans to raise Rs 3,229.98 cr through this category.
The SBI Cards Services allocated around 1,30,52,680 eq shares for SBI shareholders. Moreover, the company plans to raise Rs 985.48 cr through this category.
The company allocated 18,64,669 shares for its employees with a discount of Rs 75 per eq share only for its employees. Due to that, the price band between Rs 675 and Rs 680 per eq share. Also, the company plans to raise Rs 126.79 cr form its employees.