SBI Cards and Payment Services Ltd IPO Message Board (Page 76)

180-185 now.....

180-185 now..... HNI Book 125000 crore expected .... GMP will jump to 250 rs....if it happens

I heard about 60-70k book is confirmed as of now..

If HNI pour 125k book.

Fir toh mauja he mauja.. :-)

Current GMP????

@ manjitsingh.,

Hi.....is this same to retail category ?

means....if reatil subscribed more than for eg : 10 times..( 1 lot each application) ..Hw shares will be alloted...?
Can u pls explain..

@ashok minimum lot theory is applicable in retail allotment... 2250000 forms r available and 3500000 lac forms r expected....1•55 times... Going for 13 lots is wastage in case of application wise oversubscription...

if SH category subscribes 30X than is it good to invest in SH category upto 2 lakh?
Do we get any shares?

@ Sagar......186485/30......6216 amount of shares....hardly 8 shares...

Minimum allotment will be 1 lot i.e. 19 shares

Seems interest rate is decided after looking at grey market price!

Hi I have applied for full 1,86,000 amount in retail quota. Buy day by day I see the GMP is going down. Is it good bet to keep the investment or should I take back my application? Any advice is most helpful. Is this priced correctly?

Just wait for tomorrow

No that is not the way of allocation allotment in Shareholder category. Applying 1 lot may give you 1 lot. Applying 4 lots may also give you 1 lot. Applying 8 lots may also give you 1 lot. You can check Ujjivan Basis of Allotment for reference.

Ujjivan Basis of Allotment was also on proportional basis. Shareholder quota was oversubscribed 3 plus times. Those who applied 1 and 2 lots were allotted 1 lot by lottery. Above 3 were allotted 1 and additional by proportion.

In SBI shareholder now, those who applied 4 lots and above 1 lot firm. Below 4 lots will b allotted 1 lot by lottery. This will change tomorrow as oversubscription goes up

Samuelson is correct. In shareholders category, number of shares reserved is 13,052,680. Taking into consideration minimum 19 shares for each applications, it will take 686,983.15 applications to fully subscribe the shareholders quota. If more than 686,983.15 applications are received, irrespective of lots applied in each applications; the allottment of shares will be based on computerised lottery. In such a situation, each selected appllicant will get 19 shares , irrespective of number of shares applied. In case, there is undersubscription of applicant, i.e, less than 686,983.15 applications, there shall be proportionate allottment of shares depending on the number of shares applied in each applications.

Same rule applies in case of Retail and Shareholders category also.

All along RHP is saying Retail is on application based and Shareholder is n proportionate. Go and rad RHP as well as the notes from Chittorgarh above making misleading notes.

Page 418 of RHP

The allotment of Equity Shares to applicants other than to the Retail Individual Investors and Anchor Investors shall be on a proportionate basis within the respective investor categories and the number of securities allotted shall be rounded off to the nearest integer, subject to minimum allotment being equal to the minimum application size as determined and disclosed.

The allotment of Equity Shares to each Retail Individual Investor shall not be less than the minimum bid lot, subject to the availability of shares in Retail Individual Investor category, and the remaining available shares, if any, shall be allotted on a proportionate basis.

Dear Shareholders,

As you are aware, one of our subsidiaries, i.e., SBI Cards and Payment Services Limited ("SBI Cards" or the "Company") is proposing to undertake an initial public offering of its equity shares (the "Offer") subject to applicable statutory and regulatory requirements, including receipt of requisite approvals, market conditions and other considerations and in this regard SBI Cards has filed the red herring prospectus dated February 18, 2020 with the Registrar of Companies, National Capital Territory of Delhi and Haryana (the "RHP").

In this regard, please note that the terms of the Offer include reservation of up to 13,052,680 equity shares of the Company on a proportionate basis for the shareholders of State Bank India as of the date of the RHP.

The Bid/Offer opening will be on March 2, 2020 and Bid/Offer closing will be on March 5, 2020.

Anchor Investors shall Bid one Working Day prior to the Bid/Offer Opening Date, being February 28, 2020.

Further, the Bid/Offer Period for QIBs will close one Working Day prior to the Bid/Offer Closing Date, i.e. March 4, 2020.
copy pest from YOYO SBI mail for share Holder

Hope now you can see difference in first and second paragraph on allotment. First one is proportionate. Second is application based

Allotment in Share holders and Hni always proportionate basis.
Higher the applications, more chances.

As Chandan Bhai has explained the mimimum allotment to Category 1 of 19 shares would be 19 at least. The next category 2 of 38 shares may get 19 shares or 20 shares or maybe more with proportional allotment. But no lottery as someone stated in Ujjivan. If you check Ujjivan allotment all those who applied 1 lot got firm allotment that means every application was given allotment. As Chandan Bhai says the lottery will be applicable only if number of applications crosses the maximum application (Total shares / 19 ) and that too it has to be finalized by the exchanges.

Agree with Samuel

In simple terms if the percentage of people who applied just 1 lot is more the chances of getting higher shares by applying higher lots in shareholder category is low.

Ujjivan allotment basis was different than what SBI card has announced in its RHP and DRHP. They are not going to do allotment in shareholder category like Ujjivan (maybe they thought the category might go under subscribed or they wanted to benefit HNI). In sbi card shareholder allotement will be done like HNI so many are calling it the mini HNI quota.

This is how it is done. If the SH category is subscribed 20 times anyone who has applied for less than 20 lots will not get any shares. Everyone applying 20 times and above will be allotted one lot each (if available else it will be through lottery for everyone applying 20 lots and above). If there are shares remaining after this it will continued to be allotted in the proportionate basis. If not why would HNI be interested in applying in this category? Stop spreading false information basing argument on a different IPO.

@all ipo mentors please revert back on this point

I am assuming that all 4 Demat belongs to different persons i.e. Different PAN. In that case :

If money is not a constraint.. apply max lots(13) for all 4 demat.

If money constraint is there, then apply one lot for each demat account.


If all 4 demat belong to same person, then only one application from any demat account.

thanks abdixit, all 4 demat are different person having different bank..

Makes less sense applying in SH quota as it will be subscribed at least 20-30 times. If we apply more than 13 lots in SH we cant apply in RII. Anyone applying less than the SH subscription times will get zero allotment.

is iponooob correct ?
i heard that atleast one lot we can get than after it's proportionate basis

Some people applied the allotment basis of Ujjivan to SBI card too. In SBI card SH category allotment will be done just like HNI. It was discussed long back, confirmed and people had called SH quota mini HNI. Just new people coming in last couple of days are spreading false information.

You can read the DHRP/RHP of ujjivan and SBI card for yourself.

Shareholders category will subscribe more than 50 Times....It means those who r applying 13 lots 186485 amount will get 186485/50.....Means 3726 amounts of shares......hardly 4 to 5 shares..... decision is yours...

@manjitsingh

There has been a rule that minimum 1 lot should be allotted. So no shares would be allotted below the minimum lot size of 19

so much confusion for SH category allotment, every second person has a different view...

@sagar

Yeah I know how it feels. Wish I could find you the posts where this was discussed and explained (above was explanation of some senior member) by senior members. This IPO has so many posts and its almost impossible to search.

When one of the senior members said that SH quota will be subscribed 30 times (30K crores) you can understand that it will be the HNIs who would be applying such high amount. Also the SH quota sub will shoot up along with HNI tomorrow noon. If everyone got alloted 1 lot first like Ujjivan why would it subscribe 30 times (why would HNI apply crores to get one lot?). Ujjivan Sh quota got subscribed only 4 times only because of minimum one lot to everyone first.

నో

2నో

Tomorrow

Tu retailer ka retailer hi rehga...
Itna pata nai ipo last or aaye pesa lagane.

I think you withdraw your application..after this disappointing...????????????

I will apply in SH CATEGORY tomorrow. Shall I apply 13 lots or just 2/3 lots. Views invited

Why u people apply jab ki yehi nahin mallow ki last day kab hain? Withdraw immediately, kahan kahan se Chale ate hain

Your Disappoint will turn in happiness tomorrow.

Kal wo bhi 50 ke upar dikhega

Kisne Banaya bhai IPO Mentor??

Keise Ban Gya IPO Mentor?

i want my 6 application of family members to be bidded. and cancel SH already bidded application, as allotment will be tougher in SH & better in retail....plz guide.

Have you submitted it by netbanking ASBA or submitted physical forms at bank branch ?