SBI Cards and Payment Services
SBI Cards and Payment Services
SBI Cards and Payment Services’ initial public offering (IPO) saw plenteous response through-out the four-day bidding process, eliciting an oversubscription of 26 times at the end of the bidding process. Bids were received for a total of 266 crore shares against the 10 crore shares that were offered under various categories, translating to more than Rs 2 lakh crore. The Rs 7,581 crore SBI Cards IPO was oversubscribed 57 times by Qualified Institutional Buyers (QIB), putting in bids worth Rs 1.04 lakh crore alone. Non-institutional Investors (NII) potion was oversubscribed 45 times.
Retail individual investors portion was oversubscribed by 2.5 times, bidding for more than 16 lakh shares. Existing SBI shareholders oversubscribed their portion by 25 times. SBI employees who were offered a Rs 75 discount per share oversubscribed the issue by 4.74 times. Bids from NIIs multiplied on the final day of the bidding process, going from oversubscription of 2.19 times at the end of day three to 45 times oversubscription at the close of the bidding process.
SBI Cards and Payment Services’ initial public offering (IPO) saw plenteous response through-out the four-day bidding process, eliciting an oversubscription of 26 times at the end of the bidding process. Bids were received for a total of 266 crore shares against the 10 crore shares that were offered under various categories, translating to more than Rs 2 lakh crore. The Rs 7,581 crore SBI Cards IPO was oversubscribed 57 times by Qualified Institutional Buyers (QIB), putting in bids worth Rs 1.04 lakh crore alone. Non-institutional Investors (NII) potion was oversubscribed 45 times.
Retail individual investors portion was oversubscribed by 2.5 times, bidding for more than 16 lakh shares. Existing SBI shareholders oversubscribed their portion by 25 times. SBI employees who were offered a Rs 75 discount per share oversubscribed the issue by 4.74 times. Bids from NIIs multiplied on the final day of the bidding process, going from oversubscription of 2.19 times at the end of day three to 45 times oversubscription at the close of the bidding process.
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