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    SBI Cards IPO to open on March 2

    Synopsis

    The company plans to issue new shares worth 5 billion rupees and will offer up to 130.5 million shares for sale, the prospectus, dated February 18, showed. The bidding process will close on March 5.

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    BENGALURU: The $1.25 billion initial public offering (IPO) of SBI Cards and Payment Services, the credit card arm of State Bank of India (SBI), will open on March 2, according to its prospectus.

    The company plans to issue new shares worth 5 billion rupees and will offer up to 130.5 million shares for sale, the prospectus, dated February 18, showed.

    SBI Card IPO: Why is it being seen as a hot cake?

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    ​New kid in town

    SBI Cards and Payment Services, a subsidiary of the State Bank of India (SBI), will hit the primary market with a Rs 10,350 crore initial public offering on March 2. The IPO will be the fifth biggest in India so far. With investor interest already high in the IPO, we bring you all the details you need to know before hitting 'subscribe' on the issue:


    (With inputs from Yes Securities and Axis Capital)


    The bidding process will close on March 5.
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    1 Comment on this Story

    Sameer 278 days ago
    Better not to buy it
    The Economic Times