SBI Cards IPO Might Be Launched On March 2, The Offer Price May Be Rs 745-775 Per Share

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The nation’s largest lender State Bank of India is likely to file a red herring prospectus for the SBI Cards IPO and Payment Services with the ROC (Registrar of Companies) on February 18, as per a CNBC-TV18 report.

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SBI Cards IPO is expected to be launched between March 2-5, and the total dilution could be around 14%.

The business channel also reported that SBI will dilute 4% and Carlyle would dilute its 10% stake with the SBI Cards IPO. It is expected that SBI is likely to raise Rs 2,780-2,880 crores with this IPO.

SBI CARD IPO

The offer price for IPO is likely to be fixed between Rs 745-775 per share and with this, SBI Cards is likely to be valued at Rs 69,500-72,000 crores post listing, according to the sources quoted in the report.

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SBI Cards intends to use the proceeds of the fresh issue for augmenting its capital base to meet its future capital requirements. Currently, State Bank of India holds a 74% stake in SBI Cards and the rest is held by CA Rover Holdings, an affiliate of Carlyle Asia Partners IV.

The book is operating lead managers to the issue are Kotak Mahindra Capital Company, Axis Capital, DSP Merrill Lynch, HSBC Securities and Capital Markets (India), Nomura Financial Advisory and Securities (India) and SBI Capital Markets. 

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SBI Cards IPO Might Be Launched On March 2, The Offer Price May Be Rs 745-775 Per Share 3

Above Stocks Teamhttps://www.abovestocks.com
Above Stocks Team is a hard-working team, which is lead by the founder and works on giving the latest and accurate information about the Indian Stock Market.

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