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ICICIdirect Research Posted on 10:52am 27-Feb-2020

SBI Cards & Payment Services IPO details - Issue date, Price band, Lot size, Issue size

SBI Cards and Payment Services Limited was Incorporated in 1998 and is India's 2nd Largest credit card issuer and the subsidiary of SBI, India's largest commercial bank in terms of deposits, advances and the number of branches with a 18.0% market share of the Indian credit card market in terms of the number of credit cards outstanding as of September 30, 2019.

Issue Details

      

No. of shares on offer: 13.71 crore
QIB: 50 (%)
Retail: 35 (%)
Employee discount: of | 75 per share
Reserved for SBI shareholders: 1.3 crore shares

Objects of issue:

a) To utilise the proceeds for augmenting capital base to meet future capital requirements

b)To offload promoter stake consisting of 13.05 crore shares worth ~| 9841 crore

(a) and (b) = Rs. 500 crore

Shareholding Pattern (%) 

  Pre-Issue Post-Issue

Promoter Group

100.0 85.4
Public/Other 0.0 14.6

Watch the exclusive video on SBI Cards & Payment Services IPOhttps://www.icicidirect.com/mailimages/sbi-cards-payment-services-ipo.mp4


Frequently Asked Questions (FAQ)
 
Q. Can SBI shareholders apply in both Shareholder and Retail category?
A. 
Yes, SBI shareholder holding SBI shares as on February 18, 2020 can apply in both categories, provided their application amount in Shareholder category does not exceed 200,000.

 

Q. To be eligible for shareholder category, what is the date of holding the share?
A.
The record date for shareholders is February 18 ,2020.

 

Q. If I am a SBI Shareholder, can I apply  10 lacs in HNI category and  10 Lacs in Shareholder category?
A.
No, you cannot apply more than  2 lacs in both categories. If you apply more than  2 lacs in shareholder category, you cannot apply in any other category. However, if you wish to apply for more than  2 lacs then, you can apply more than  2 lacs in HNI category and less than  2 lacs in SBI shareholder category.

 

Q. What is the percentage reservation on HNI and Retail category, how does the allotment takes place?
A.
There is a 15% reservation for Non Institutional Investor(HNI) and 35% for Retail Category. Allotment of the IPO in HNI Category is proportionate to the extent of subscription. For Retail Category, Proportionate, subject to minimum bid lot. The allotment to each Retail Individual Bidder shall not be less than the minimum Bid Lot, subject to availability of Equity Shares in the Retail Portion and the remaining available Equity Shares if any, shall be allotted on a proportionate basis.

 

Q. If one has SBI shares in other broker's Demat account, will he/she be considered as SBI shareholder while applying in Shareholder Category through ICICIdirect?
A.
Yes, application will be processed if the person is holding SBI shares in any of the Demat accounts as on February 18, 2020.
    
Q. Can one apply for the IPO using funds generated by selling other demat shares from their ICICIdirect account during the IPO period?
A.
Yes, One can use eATM facility during the IPO period to sell shares from the demat, where the money will be credited in the bank account within half an hour and the same can be used to apply the IPO. Also If one sells shares in Cash on March 2, 2020, the money will be received by the client on March 4, 2020 as per T+2 settlement and the same can be used for IPO.
Please note: IPO will close on March 05, 2020.

 

Q. How to apply for the IPO if the login Id and Password of the ICICIdirect.com account is not available?
A.
You can easily generate the Login Id and Password of your ICICIdirect.com in 30 seconds with our OTP method or can also call on our Call-N-trade number 1860 123 1122 to apply for the IPO.


Know how to apply online for the SBI Cards and Payment Services Limited IPO: https://community.icicidirect.com/how-to-apply-online-for-the-sbi-cards-and-payment-services-limited-ipo-

 

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