SBI Cards and Payments Services

SBI Cards and Payments Services Ltd IPO Details

SBI Cards and Payments Services Ltd IPO period from March 2 to March 5, 2020:

State Bank of India embodied in 1998. The company plans to introduce its branch of SBI Cards and Payments Services Ltd to the public. The IPO subscription period will start on 2nd March and it will end on 5th March 2020.

IPO Details:

Bid Period March 2 to March 5, 2020
IPO Type Book Built Issue IPO
IPO Size 137,149,315 eq shares of Rs 10 (aggregating up to Rs 10,354.77 crore)
Fresh Issue 6,622,517 eq shares of Rs 10 (aggregating up to Rs 500 crore)
Offer for Sale 130,526,798 eq share of Rs 10 (aggregating up to Rs 9,854.77 crore)
Face Value Rs 10 Per Eq Share
IPO Price Rs 750 to Rs 755
Employee Discount Rs 75
Market Lot 19 Shares
Minimum Order Quantity 19 Shares
Listing At BSE, NSE

It is a ‘Book Built Type of Issue’, with the face value of Rs 10 per equity share. The total size of the issue is 137,149,315 equity shares with an aggregating up to Rs 10,354.77 crore. Similarly, the fresh issue of the IPO is 6,622,517 equity shares with an aggregating up to Rs 500 crore. Also, the company offered shares for sale is 130,526,798 equity shares with an aggregating up to Rs 9,854.77 crore. 

Promoter Holdings:

The initial public offering shares will be promoted by the State Bank of India

Pre Issue Share Holding 74%
Post Issue Share Holding

Minimum investment of the SBI Cards and Payments Services Ltd IPO:

The minimum amount of investment of the IPO should be Rs 14,345 per single lot (1 lot= 19 shares.  Similarly, the maximum amount of investment should be Rs 186,485 for 13 lots (13 lots= 247 shares). 

The allotment orders of the IPO will available on 11th March 2020. The IPO share listing from March 16, 2020, in both Bombay Stock Exchange and National Stock Exchange. 

The objective of the company, it plans to utilize the raised amount from the offered for sale is to permit the existing shareholders to sell their shares. Also, to utilize the fresh issue raised amount for IPO expenses and the future capital requirements.  

Registrar:

Link Intime India Private Ltd

C 101, 247 Park, L.B.S.Marg, 

Vikhroli (West), Mumbai – 400083

Phone: +91-22-4918 6270

Email: [email protected]

Website: http://www.linkintime.co.in

Disclaimer: This post is just information about the IPO. It does not give any advice or recommendation. Please read the offer document carefully and consult your advisor before investing.

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