What is SBI Card IPO?

SBI Cards & Payment Services Ltd is coming up with an initial public offer of around Rs 10,000 Cr to offer an exit to the existing shareholders, expand the capital base and get listed at BSE and NSE stock exchanges.

The SBI Card IPO opens on Mar 2, 2020, and closes on Mar 5, 2020. The bidding closes for retail investors on March 5, 2020, at 5 PM.

The SBI Card IPO price and lot size are not yet announced. They are expected to be announced on or before Feb 26, 2020.

SBI Card IPO also has a reserved quota for SBI employees. SBI employees can apply up to Rs 5L under employee quota in addition to Rs 2L in retail and Rs 2L in shareholders' quota.

The SBI Card IPO shareholder quota cut-off date is Aug 18, 2020. Investors who have SBI shares in their demat account on this date are eligible to apply in the reserved shareholder's category.

SBI card IPO shares are proposed to list at BSE and NSE. Its expected listing date is Mar 16, 2020.