SBI Cards IPO oversubscribed 6.99 times on day 3

SBI Cards IPO oversubscribed 6.99 times on day 3


SBI Cards and Payment Services - the credit card arm of the country's largest lender State Bank of India (SBI), has been subscribed 6.99 times on day 3.

The issue will close for QIBs today and for retail investors and HNIs tomorrow.

The portion reserved for retail buyers was subscribed 1.57 times, institutional was subscribed 24.24 times and non-institutional buyers 0.86 times.

The initial public offer (IPO) has received bids for 8.75cr shares on Tuesday as against 10.02cr shares on offer, as per the NSE data and the issue was subscribed 0.87 times.

The issue will close on Thursday, March 5, 2020. The price band has been fixed at Rs750-755 per share.




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