Page 18 of 6 for SBI CARDS IPO ( MARCH 2nd to MARCH 5th )

fanboy · 2020-02-21 22:08:26 +0530

SBI Cards — India’s second-largest credit card firm with nearly 18 per cent market share. — will offer up to 13.71 crore equity shares with a face value of Rs 10 via offer for sale route, according to the draft red herring prospectors (DRHP). This will include up to 3.73 crore share sale by SBI and up to 9.32 crore shares by Carlyle group. (CA Rover). In addition, the company will also issue fresh equity shares of Rs 500 crore. SBI holds 76 per cent in SBI Cards and the rest is held by the Carlyle group.When will SBI Cards IPO open?The IPO will open for subscription from March 2-5. The shares will be credited to investors’ demat account on or around March 13.What is SBI Cards shares listing date?Shares of the company will be listed on BSE and NSE both on or around March 16, according to the red herring prospectus.Who are book running lead managers of SBI Cards IPO?Kotak Mahindra Capital, Axis Capital, BofA Securities, HSBC, Nomura, SBI Capital Markets are the book running lead managers to the issue.What is the issue size of SBI Cards IPO?The company plans to issue new shares worth Rs 500 crore and will offer up to 13.05 crore shares as offer for sale, according to the prospectus.What are SBI Cards strengths?Second largest credit card issuer in India with deep industry expertise and a demonstrated track record of growth and profitabilityDiversified customer acquisition capabilitiesSupport of a strong brand and pre-eminent promoterDiversified portfolio of credit card offeringsAdvanced risk management and data analytics capabilitiesModern and scalable technology infrastructureOverview of credit card industryCredit card industry intends to grow 2.5 times in the next five years. Credit card spends have registered a robust growth, growing at a CAGR of 32 per cent from fiscal 2015 to fiscal 2019 to reach Rs 6 lakh crore as of fiscal 2019, and is expected to grow at a healthy rate to reach Rs 15 lakh crore as of fiscal 2024, which is 2.5 times over fiscal 2019, according to CRISILPrice band between : 750 to 755Expected listing gains : 40%

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