SBI shareholders likely to have better chance of getting allotment even if they hold one share.
MUMBAI: Brokers are advising their clients to buy at least one share of State Bank of India so that they can be eligible to apply for the Rs 9,000-crore initial public offering of SBI Cards and Payment Services under a special category. Shares of the credit cards unit of the country’s largest lender is already commanding a premium of
Rs 9,500 crore there is interest around it,” said Geetanjali Kedia, senior research analyst at SPTulsian-.com. “SBI Life has done well post listing in the last two years. Also, this is the only pure play credit card issuing company. Credit cards is a high yielding business. More so, the company has been doubling profits in the past years,” she said.