SBI Playing cards IPO to open for subscriptions on 2 March; plans to lift Rs 9,000 cr by way of maiden concern

12



New Delhi: The Rs 9,000-crore preliminary public providing (IPO) of SBI Playing cards and Cost Companies, the bank card unit of the nation’s largest lender State Financial institution of India (SBI), will open for subscription on 2 March.

The corporate, which had filed draft IPO papers in November final yr, obtained “observations” from the Securities and Trade Board of India (Sebi) on 11 February.

The IPO will open for subscription on 2 March and shut on 5 March, SBI mentioned in a regulatory submitting.

“Further, SBI has been informed by SBI Cards that, in compliance with applicable law, including, the Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2018, Anchor Investors shall bid one working day prior to the bid/offer opening date, being 28 February, 2020,” it mentioned.

Additional, subscription interval for certified institutional patrons (QIBs) will shut one working day previous to the cut-off date on four March, it mentioned.

In keeping with the draft papers, SBI Playing cards will supply as much as 130,526,798 fairness shares by way of an offer-for-sale route. This can embrace as much as 37,293,371 share sale by SBI and as much as 93,233,427 shares on supply by Carlyle Group. As well as, the corporate will even concern recent fairness shares of Rs 500 crore.

SBI holds 76 p.c in SBI Playing cards and the remainder of the stake is held by Carlyle Group.

SBI Playing cards is the second-largest bank card issuer in India with an 18 p.c market share.

SBI Playing cards was launched in October 1998 by SBI and GE Capital. In December 2017, State Financial institution of India and The Carlyle Group acquired GE Capital’s stake within the Firm

<!–

Firstpost is now on WhatsApp. For the newest evaluation, commentary and information updates, join our WhatsApp providers. Simply go to Firstpost.com/Whatsapp and hit the Subscribe button.

–><!–

Particular Thursday Expiry on 10th seventh Nov
Early Closure to The Nice Diwali Low cost
Final Likelihood to get Moneycontrol Pro for a yr @ Rs. 289/- solely
Coupon code: DIWALI.

–>

Discover newest and upcoming tech devices on-line on Tech2 Gadgets. Get expertise information, devices opinions & scores. Standard devices together with laptop computer, pill and cellular specs, options, costs, comparability.

https://platform.twitter.com/widgets.js



Source

Facebook Comments

This website uses cookies to improve your experience. We'll assume you're ok with this, but you can opt-out if you wish. Accept Read More