Live
- CM Jagan Focuses on Manifesto Preparation, convenes meeting with key leaders
- Investment opportunities in Indian hospitality
- Nomination of BJP’s Birbhum candidate cancelled, Debtanu Bhattacharya to contest
- Google Gemini AI Now Compatible with Android 10 and 11 Devices: How to Get It
- Threads to Automatically Filter Offensive Content From Feeds
- Bengal LS polls: BJP's Raju Bista complains of violence at Chopra; 47.29 pc turnout till 1 pm
- SRH vs RCB: Daniel Vettori hopes someone in SRH can play anchor role when chasing
- Should re-election be held with fresh candidates if NOTA gets a majority? SC issues notice to EC
- At 47.48 pc, Barmer-Jaisalmer records highest turnout in Rajasthan
- Falsely accusing spouse of infidelity constitutes mental cruelty: Delhi HC
SBI Cards IPO to open for subscription on March 2
The Rs 9,000-crore initial public offering (IPO) of SBI Cards and Payment Services, the credit card unit of the country's largest lender State Bank of India (SBI), will open for subscription on March 2.
New Delhi: The Rs 9,000-crore initial public offering (IPO) of SBI Cards and Payment Services, the credit card unit of the country's largest lender State Bank of India (SBI), will open for subscription on March 2.
The company, which had filed draft IPO papers in November last year, obtained "observations" from the Securities and Exchange Board of India (Sebi) on February 11.
The IPO will open for subscription on March 2 and close on March 5, SBI said in a regulatory filing.
"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 February 28, 2020," it said.
Further, subscription period for qualified institutional buyers (QIBs) will close one working day prior to the closing date on March 4, it said.
According to 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.
