SBI Cards IPO subscribed 82% on Day 2 of bidding

The portion reserved for retail buyers was subscribed 1.18 times and non-institutional buyers 0.39 times.

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

SBI Cards
SBI Cards and Payment Services - the credit card arm of the country's largest lender State Bank of India (SBI), has been subscribed 0.58 times on day two.

The portion reserved for retail buyers was subscribed 1.14 times, institutional was subscribed 0.13 times and non-institutional buyers 0.37 times.

The issue was subscribed 0.39 times on day 1. The initial public offer (IPO) of SBI Cards and Payment Services received bids for 3.94cr shares on March 2, 2020, as against 10.02cr shares on offer, as per the National Stock Exchange of India (NSE) website data.

The issue will close on Thursday, March 5, 2020. The price band has been fixed at Rs750-755 per share.

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