SBI Card files DRHP for IPO

SBI Cards and payment services, the second largest credit card provider after HDFC Bank Credit Cards has filed draft Red hearing Prospectus with Securities and Exchange Board of India (SEBI) on November 26, 2019.


The company SBI card will offer 13,05,26,798 equity shares via offer for sale by State Bank of India and Carlyle Group (CA Rover). In addition there will be and additional fresh issue of equity shares worth Rs. 500 Crore with around 14% dilution in paid up capital.

The total IPO is expected to weigh somewhere around Rs. 9600 Crore.

Presently, SBI bank holds 76% stake in SBI card and rest is held by Carlyle Group.

We have already reported for this listing of SBI Card on October 30, 2019 with complete details of its history, financials, Threats and Opportunities : SBI Card and Payment’s IPO process initiated

SBI Cards is the second-largest credit card issuer in India, with an 18% market share as of September 30, 2019, according to the RBI Data.

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

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SBI Card is a subsidiary of State bank of India which holds 75% shares in SBI cards and Payment Services Private Limited while 26% is hold by Carlyle Group, same is not debuting his Public Issue by Offer of sale as well as Fresh Issue.

The Dates and Price Band for SBI Card IPO are not yet finalised, Company has only filed DRHP with regulatory authority SEBI.

The Listing Date of SBI Card IPO are not yet finalised, Company has only filed DRHP with regulatory authority SEBI.

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