SBI Cards IPO subscribed 0.35 times on Day 1 of bidding

The portion reserved for retail buyers was subscribed 0.34 times and non-institutional buyers 0.06 times.

Mar 02, 2020 10:03 IST India Infoline News Service

SBI Card
SBI Cards and Payment Services - the credit card arm of the country's largest lender State Bank of India (SBI), begins on a strong note on day one of bidding on Monday.

The portion reserved for retail buyers was subscribed 0.56 times and non-institutional buyers 0.09 times. The overall subscription on day one was 0.35 times.

The initial public offer (IPO) of SBI Cards and Payment Services received bids for 92.03 lakh shares so far today, as against 10.02cr shares on offer, as per the National Stock Exchange of India (NSE) website data.

The issue opened for bidding today and it will close on Thursday, March 05, 2020. The price band has been fixed at Rs750 to Rs755 per share.

The company on February 28, has raised Rs2,769cr from anchor investors, ahead of its initial share sale. The company allotted 3.66cr shares to a total of 74 anchor investors, including 12 mutual funds, through 48 schemes, at the upper end of the price band at Rs755.

To know everything about the SBI Cards IPO click here

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