SBI Cards and Payment Services Limited IPO

SBI Cards and Payment Services Limited is a subsidiary of SBI, India's largest commercial bank. Incorporated in 1998, the company is the 2^nd largest credit card issuer in the country, with a 17.6% and 18.0% market share of the Indian credit card market (number of credit cards) as of March 31, 2019, and September 30, 2019, respectively.

SBI Cards offers a wide range of credit cards to individual and corporate clients including lifestyle, rewards, shopping, travel, fuel, banking partnership cards, and corporate cards, etc. The company has partnered with several leading names across industries, including Air India, Apollo Hospitals, BPCL, Etihad Guest, Fbb, IRCTC, OLA Money and Yatra, amongst others.

Competitive Strengths

1. 2^nd largest credit card issuer in India with a strong track record of growth and profitability.

2. Leading player in open market customer acquisitions using physical and digital channels in India.
3. A well-known promoter in SBI with strong brand recognition.
4. Diversified credit card portfolio and partnerships with leading brands across industries.

Company Promoters:

The promoter of the Company is SBI.

Company Financial:

Particulars	For the year/period ended (Rs in Million)
Particulars	30-Sep-19	31-Mar-19	31-Mar-18	31-Mar-17
Total Assets	244,591.43	202,396.34	156,860.02	107,649.85
Total Revenue	46,772.08	72,868.34	53,701.92	34,710.38
Profit After Tax	7,258.82	8,627.19	6,011.43	3,728.59

Objects of the Issue:

The Offer comprises of a Fresh Issue and an Offer for Sale-

1. The Offer for Sale- The object of the Offer for Sale is to allow the Selling Shareholders to sell an aggregate of up to 130,526,798 Equity Shares held by them. The company will not receive any proceeds from the Offer for Sale.

2. Fresh Issue- The net proceeds of the Fresh Issue, i.e. Gross proceeds of the Fresh Issue less the Offer Expenses apportioned to the Company ("Net Proceeds") are proposed to be utilized for augmenting the capital base to meet company's future capital requirements.

( Read Detailed Report )

Issue Details

ISSUE OPENS

Monday, March 02, 2020

ISSUE CLOSES

Thursday, March 05, 2020

ISSUE PRICE

Rs 750 - Rs 755 Per Equity Share. Discount for Employee Portion Rs 75/- per Equity Share.

BID LOT

19 Equity shares & multiple of 19 Equity shares thereafter.

IPO size

Rs. 10,340.79 Cr

LISTING EXCHANGES

NSE & BSE

ALLOTMENT DATE

Tentatively Thursday, March 12, 2020

SBI Cards and Payment Services Limited IPO - Ratio

RATIO - INSTI / RETAIL / HNI

QIB 50% - Retail 35% - NIB 15%

Category	Allocation	No of Shares	@ upper price band Amount (Rs. Cr)
QIB (including Anchor):	50%	6,11,15,982	4,614.26/-
NIB:	15%	1,83,34,795	1,384.28/-
Retail:	35%	4,27,81,188	3,229.98/-
Eligible Employee:	-	18,64,669	126.80/-
SBI Shareholders:	-	1,30,52,680	985.48/-
Total	100%	13,71,49,314	10,340.79/-

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FAQs

To become eligible SBI Cards shareholder, you must have SBI shares in your Demat account on the cut-off date 18th Feb 2020, the date of filing RHP with SEBI.

An individual can also apply in the Shareholders category (any amount) if he holds the State Bank of India (SBI) shares in his demat account on 18th Feb 2020 the day of filing the SBI Card IPO RHP with SEBI. Note: SBI shareholders can apply in both; RII as well as shareholder category with the...