Trade Nivesh The shareholding of State Bank of India and CA Rover in SBI Card reduced to around 70 percent and 16 percent respectively post issue.
The equity shares of SBI Cards and Payment Services, the country's second largest credit card issuer after HDFC Bank, will be listed on bourses on March 16.
It will be the first listing in the current calendar year.
The credit card issuer has fixed final IPO price at Rs 755 per share, the higher end of price band (of Rs 750-755) and the employees received shares at a discount of Rs 75 per share to the final price.
The subsidiary of State Bank of India raised Rs 10,340 crore through the public issue, of which the company received Rs 500 crore against fresh issue and the rest (Rs 9,840 crore) received by parent firm SBI and investor CA Rover Holdings, an affiliate of global investment firm Carlyle Group.
The issue consisted a fresh issue of Rs 500 crore and offer for sale of more than 13 lakh equity shares by SBI and CA Rover.
The shareholding of State Bank of India and CA Rover in SBI Card reduced to around 70 percent and 16 percent respectively post issue.
The public issue was subscribed 26.54 times during March 2-4, but was less than analysts' expectations due to weak market conditions after wide-spreading novel coronavirus that has taken over 4,600 lives with more than 1.28 lakh infected cases globally.
Ask an expert more info Trade Nivesh Investment Adviser
The equity shares of SBI Cards and Payment Services, the country's second largest credit card issuer after HDFC Bank, will be listed on bourses on March 16.
It will be the first listing in the current calendar year.
The credit card issuer has fixed final IPO price at Rs 755 per share, the higher end of price band (of Rs 750-755) and the employees received shares at a discount of Rs 75 per share to the final price.
The subsidiary of State Bank of India raised Rs 10,340 crore through the public issue, of which the company received Rs 500 crore against fresh issue and the rest (Rs 9,840 crore) received by parent firm SBI and investor CA Rover Holdings, an affiliate of global investment firm Carlyle Group.
The issue consisted a fresh issue of Rs 500 crore and offer for sale of more than 13 lakh equity shares by SBI and CA Rover.
The shareholding of State Bank of India and CA Rover in SBI Card reduced to around 70 percent and 16 percent respectively post issue.
The public issue was subscribed 26.54 times during March 2-4, but was less than analysts' expectations due to weak market conditions after wide-spreading novel coronavirus that has taken over 4,600 lives with more than 1.28 lakh infected cases globally.
Ask an expert more info Trade Nivesh Investment Adviser
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