sbi online banking: SBI Cards sees tepid listing at Rs661 on NSE

sbi online banking, SBI Cards
Sbi online banking: Shares of SBI Cards and Payment Services are listed at a 13% discount to issue price at Rs661 from its IPO price on the NSE due to weakness in the stock markets.

The stock started trading at Rs658 per share on the BSE.

The company had priced the initial public offer (IPO) at the top end of the Rs750-755/ share price band.

SBI Life Insurance Company Ltd is currently trading at Rs746.35, down by Rs15.2 or 2% from its previous closing of Rs761.55 on the BSE.

The scrip opened at Rs745 and has touched a high and low of Rs752.50 and Rs710 respectively.

The IPO of SBI Cards and Payment Services issue received bids for 225.09 crore shares, as against 10.02 crore shares on offer. The issue was subscribed 22.45 times on the last day.

The quota reserved for QIBs was subscribed 57.18 times with total bids for 138.52 cr shares as against 2.42 cr shares on offer for them. The non-institutional investor's category was subscribed 45.23 times. The retail individual investors (RIIs) category was subscribed 2.50 times. The employee’s category was subscribed 4.74 times. The shareholder’s category was subscribed 25.36 times.

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