SBI planned to introduce two IPOs this year:
This year, the SBI (State Bank of India) planned to introduce its 2 Initial Public Offers (IPOs) into the market. The 2 IPOs are SBI Cards and Payment, and UTI AMC. The SBI Cards and payment services Ltd already filled the draft documents with SEBI. According to the SBI and its, promoter’s the SBI Cards plans to raise Rs 9,500 cr through this IPO. Mostly, the stock market experts have suggested to the investors as ‘Strong Buy’ for the SBI Cards IPO.
As per the business expert’s analysis, The value of the company will be nearly Rs 600 billion in the IPO. The price of the IPO would be Rs 37 per share, it has higher than the market estimated value. And, the target price increased with Rs 15 then the targeted prices is Rs 350.
The State Bank of India acts as a promoter for the SBI Cards and Payment Servicing IPO. According to the sources, The State Bank of India holding 74% of Stake. It holds nearly 689,927,363 shares under the Pre Offer Holding process.
The SBI Cards Payments Services IPO will list on National Stock Exchange as well as Bombay Stock Exchange. Also, the face value of the issue is Rs 10. Moreover, the company offered 130,526,798 shares through Initial Public Offer (IPO).