SBI Cards and Payment Services Ltd IPO (SBI Cards IPO) Detail

Add to Calendar 2020-03-02 12:00 AM 2020-03-05 12:00 AM Asia/Kolkata SBI Cards and Payment Services Ltd IPO (SBI Cards IPO) Detail SBI Cards and Payment Services Ltd India

The most awaited IPO of SBI Cards and Payment Services Limited (SBI Cards) is the latest IPO hitting Dalal Street on Monday (March 02, 2020). The below article will provide you a complete overview of this company.

Corporate Profile

SBI Cards and Payments Services is in the business of issuing credit card to consumers in India. The company is promoted by one of the oldest PSU Bank of India, the State Bank of India (SBI). The company primarily generates revenue from interest charged on credit card receivables and fee income derived from interchange fees, late fees, annual card fees, and service charges. SBI Cards has a broad credit card portfolio which includes SBI Card-branded credit cards along with co-branded credit cards that bear both the SBI Card brand and their co-brand partners" brands.

Issue Details

Dates: March 02 to March 05, 2020

Price Band: Rs. 750 to Rs. 755 per share

Minimum Lot: 19 shares

Minimum Application Amount: Rs. 14,250 to Rs. 14,345 

Total Issue Size: Up to Rs. 10,354.77 Crs (Fresh issue Rs. 500 Crs and OFS Rs. 9,854.77 Crs)

Objects of the Offer

The Net Proceeds are proposed to be utilized for augmenting the Company's capital base which will be utilized towards business and growth including extending credit to existing customers, meeting operating expenditure along with future working capital requirements that are expected to arise out of the growth of the business.

Business and Financial Overview

SBI Cards is a payment provider which is registered as a Non-Banking Finance Company with the Reserve Bank of India (RBI). SBI Cards is the 2nd largest credit card issuer of India only after HDFC Bank (market share of approx. 27%) and has a market share of 18.10% in terms of the number of credit cards outstanding as on November 2019 along with a market share of 17.90% in terms of credit card spends.  

During the fiscal year 2017 to 2019, the company's total credit card spends has grown at a CAGR of 54.20% which as compared overall credit card industry which has grown at 35.60

Issue Detail

  • Issue Open: Mar 02, 2020
  • Issue Close: Mar 05, 2020
  • Issue Type: Book Built Issue IPO
  • Face Value: Rs.10 Per Equity Share
  • Price Band: Rs.750 to Rs.755 Per Equity Share
  • Bid Lot:19 Shares
  • Minimum Order Quantity:19 Shares
  • Listing At: 2020-03-16
  • Issue Size: • 137,149,315 Eq Shares of Rs.10

Current Bidding Status

Number of Times Subscribed (BSE + NSE)
As on Date & Time QIB NII RII Employee Others Total

Listing Day Trading Information

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Frequently Asked Questions

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Following are the benefits in buying and selling an IPOs through a discount broker. Reduced Brokerage Fee: Discount brokers charge a flat brokerage which is missing in case of full service brokers. Full service brokers usually charge %age brokerage and this incurs a lot of cost to an investors. So if any full service broker charge a brokerage of let say 0.03% then on a purchase of shares of worth of Rs 200,000 you end up paying Rs 600+ Taxes. In our case we charge a flat brokerage of Rs 20 + Taxes. Discount brokers therefore saves a lot of money of investors. Better Trading Platform: Usually discounts brokers don’t provide a good trading platform and experience but there are few discounts brokers like Samco, who are now focussing on delivering a world class trading platform and top notch user experience. Therefore narrowing down the gap between discount brokers and full service brokers.
Technically Speaking, SEBI has made mandatory to buy an IPO through ASBA channel but there is no regulation on how any investor can sell an IPO allotted shares. Therefore, smart investors can always sell IPO allotted shares through a discount broker


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