SBI Cards IPO opens on March 2: Key things to know about Rs 9,000-cr offer

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The much-awaited initial public offering (IPO) of SBI Cards and Payment Services, a subsidiary of State Bank of India (SBI), will open on March 2, confirms to its prospectus. The company aims to raise around Rs 9,000 crore ($1.25 billion). The IPO will be a mix of fresh issue and an offer for sale (OFS). SBI Cards plans to issue new shares worth Rs 500 crore and will offer up to 130.5 million shares for sale, the prospectus, dated February 18, showed.

SBI Cards Details:

SBI Cards strengths:

• Second largest credit card issuer in India with deep industry expertise and a demonstrated track record of growth and profitability
• Diversified customer acquisition capabilities
• Support of a strong brand and pre-eminent promoter
• Diversified portfolio of credit card offerings
• Advanced risk management and data analytics capabilities
• Modern and scalable technology infrastructure

   

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