SBI cards IPO Share allotment status: The shares allocation of SBI Cards Initial Public Offer (IPO), which closed on March 5, is likely to be made today. The IPO is expected to be listed on BSE and NSE on March 16. Have you also invested in SBI cards IPO? Well, then you can check the allotment on the website of Link Intime India, the registrar of the IPO.
Steps to check the allotment status of the SBI Cards IPO:
1. Go to the Link Intime India website.
2. Select the issue you applied for – SBI Cards and Payment Services in the drop-down menu.
3. Enter your PAN Number or Application Number or DP / Client ID.
4. Enter the Captcha code and click on the Submit button. The allotment status will be displayed
In case you have any queries, you can send a mail to the official email ID – ipo.helpdesk@linktime.co.in or call at 022 49186200.
As per the draft papers, SBI Cards will offer up to 130,526,798 equity shares through an offer for sale route. This will include up to 37,293,371 share sale by SBI and up to 93,233,427 shares on offer by Carlyle Group. In addition, the company will also issue fresh equity shares of Rs 500 crore. SBI holds 76 percent in SBI Cards and the rest of the stake is held by Carlyle Group.
The SBI Cards IPO is one of the largest share sales in recent times, both in terms of size and oversubscription. The IPO comprises a fresh equity issue worth Rs 500 crore and a total dilution of around 14 percent is expected to be done through SBI Cards IPO via an Offer For Sale (OFS) route.
The company aims to raise Rs 10,355 crore through this IPO. It has already raised Rs 2,769 crore from 74 anchor investors, including 12 mutual funds. The listing on BSE and NSE of the IPO is likely to take place on March 16.
Currently, State Bank of India (SBI) holds a 76 percent stake in SBI Cards while the rest is with Carlyle Group.
SBI Cards, the credit card arm of the SBI, the country’s top public lender, drew bids for 225 crore shares, compared about 10 crore shares on offer, stock exchange data showed. Non-institutional investors category was subscribed 45 times and retail individual investors 2.5 times.
SBI Cards’ ₹10,000 crore IPO is the first by a credit card issuer in India and the fifth-largest by any company in India. The issue, which opened on March 2, came at a time when global financial markets were roiled by fears of the economic impact of the coronavirus.
Analysts said they had anticipated a higher subscription rate but acknowledged that the spread of the coronavirus had major knock-on effects on markets and the wider economy.
But “looking at current economic conditions globally, the IPO has still fared better (than expected),” an economist at Mumbai-based Anand Rathi Securities, Sujan Hajra, told AFP.
India’s biggest bank, SBI, which held 74% of SBI Cards, sold its 4% stake. Carlyle Group, which held 26%, was selling its 10% stake.
Kotak Mahindra Capital Company, Axis Capital, DSP Merrill Lynch, HSBC Securities and Capital Markets (India), Nomura Financial Advisory and Securities (India), and SBI Capital Markets were the lead managers for the IPO. (With Agency Inputs)
