SBI Cards IPO: Full Process to check the share allotment status
One of the largest credit card issuers in India, SBI Cards has a market share of 17.6% and 18.1% of the Indian credit card market in terms of the number of outstanding credit cards. SBI Cards offer an extensive credit card portfolio to both – individual cardholders and corporate clients. This includes lifestyle, rewards, travel and fuel, shopping, banking partnership cards and corporate cards. In terms of income profiles and lifestyles, SBI Cards covers all major cardholder segments.
Retailers along with the high-net-worth individuals (HNIs) are eagerly awaiting for shares allotment in SBI Card IPO. This IPO issue has received bids worth approximately Rs 2,00,000 crore.
Those who have applied for shares of SBI Cards in the recent IPO can check the status of allotment on the website of Link Intime India. This is the registrar of the IPO.
Applicants can search by their PAN card number or they can also search by their application number to know the status. The allotment status of SBI Cards IPO can also be checked on BSE’s website.
The allotment is expected to happen on 12th March and the listing on BSE and NSE may happen on March 16th 2020.
The credit card arm of India’s biggest bank, SBI Cards which is India’s one of the top public lender, drew bids for 225 crore shares. Non-institutional investors category was subscribed 45 times and retail individual investors 2.5 times.
The Rs. 10,000 crore IPO of SBI Cards is the first one by the credit card issuer and the fifth-largest by any company in India. The issue opened on March 2 2020.
Although analysts had anticipated a higher subscription rate the spread of the coronavirus had a major effect on markets and the wider economy. However, economists believe that the IPO has performed better than expected in spite of the current economic conditions globally.
Here are the details of SBI Cards IPO
- SBI Cards IPO Date – Issue opened on 2nd March 2020
- SBI Cards IPO Price – Issue price set at Rs 755
- SBI Cards IPO Status – Link Intime India Website
- SBI Cards IPO Allotment Date – 12th March (expected)
- SBI Cards IPO Subscription Status – Listing on BSE and NSE may happen on March 16th 2020
And Big news for the SBI Bank users, No minimum balance needed for the SBI saving account