SBI Cards and Payment Services Limited IPO

SBI Card was launched in October 1998 by the State Bank of India and GE Capital. Incorporated as SBI Cards and Payment Services Private Limited (SBICPSL), SBI Card is headquartered in Gurgaon, Haryana.

In December 2017, State Bank of India and The Carlyle Group acquired GE Capital`s stake in the Company. SBI holds 74% while Carlyle holds 26% in SBI Card.

The legal name of SBI Card was changed on 20 August ’19, from SBI Cards and Payment Services Private Limited to SBI Cards and Payment Services Limited, on account of its conversion from a “Private Limited” company to a “Public Limited” company.

The aim of the SBI Card is to offer Indian consumers access to a wide range of world-class, value-added payment products and services. Our endeavor is to simplify the lives of our customers, employees and other important stakeholders.

SBI Card provides innovative products and services.

Within a short span of 10 months, we achieved a credit card customer base of 1 lakh. We entered the ‘1Million Card Club’ in 2002 and crossed the 2 million card base in 2005.

Today, with over 9 million credit card customers, we are the second-largest credit card issuer in the country.

The journey SBI Card

In a span of 20 years, SBI Card achieved numerous milestones. The company significantly increased its card base, added new types of cards and received various awards and recognition for its performance, quality, and service.

 

Strength of SBI Cards

1) Increased market share in card base to 18% from 15% in the last 5 years

2) SBI Cards and Payment Services Limited is the 2nd largest credit card provider in the country behind leader HDFC Bank, with a card base of over 9 million.

3) SBI Cards has offices in over 130 cities in India.

4) It has an extensive product portfolio, which includes premium, classic, travel & shopping, exclusive and corporate cards, to cater to both individual and corporate needs.

5) The dedicated and customer-oriented approach of SBI Card has won various industry accolades for customer service, branding, product innovation, and marketing.

SBI Cards IPO Details

IPO Opens on: 2 March 2020

IPO Closes on: 5 March 2020

Price Band:  Rs 750 – 755 per share

Bid Lot:  19 shares and in multiples of 19 shares

Maximum Price: Rs 14,345

Fresh issue: Rs 500 Cr

Offer for Sale: Rs (INR9,789.5 – 9,854.8 crore)

IPO Size: Rs 10,354.8 cr

Employees Discount: Rs 75 per share

SBI Cards IPO Time Line

Finalisation of Allotment: 11 March 2020  

Initiation of Refunds: 12 March 2020

Transfer of Shares to Demat Account: 13 March 2020

Listing At: NSE & BSE

Listing Date: 16 March 2020

Financial Performance of (in Crores) SBI Cards

FY2018 FY2019 9M FY2020
Total Revenue 5,370.2 7,286.8 7,240.2
Total Expense 4,450.8 5,955.2 5,621.5
Net Income 599.3 859.6 1,160.4
Net margin (%) 11.2 11.8 16.0

SBI Cards IPO Valuations

Face Value = Rs 10

Earnings Per Share (EPS) = Rs 9.43

PE Ratio = 80 (Approx)

Return on Net Worth (RONW) = 24%

Net Asset Value = Rs 39.93 /Share

SBI Cards IPO Subscription Details

Category Subscription (no. of times, at 5 pm)
Day 1  Day 2 Day 3 Day 4

QIB

0.00x 0.21x 57.18x 57.18x
NII 0.12x 0.47x 2.19x 43.71x
Retail 0.62x 1.21x 1.77x 2.49x
Employee 0.80x 1.84x 3.29x 4.74x
Others 0.69x 1.41x 3.54x 25.09x
Total 0.39x 0.87x 15.49x 26.22x

Grey Market Premium of SBI Cards IPO Day by Day

Grey market premium as on 14-03-2020 = Rs. -(20-25)/Share (Discount)

Grey market premium as on 13-03-2020 = Rs. -(20-25)/Share (Discount)

Grey market premium as on 12-03-2020 = Rs. 15-20/Share

Grey market premium as on 11-03-2020 = Rs. 60-65/Share

Grey market premium as on 10-03-2020 = Rs. 30-35/Share

Grey market premium as on 09-03-2020 = Rs. 30-35/Share

Grey market premium as on 08-03-2020 = Rs. 120-130/Share

Grey market premium as on 07-03-2020 = Rs. 120-130/Share

Grey market premium as on 06-03-2020 = Rs. 120-130/Share

Grey market premium as on 05-03-2020 = Rs. 180-200/Share

Grey market premium as on 04-03-2020 = Rs. 140-150/Share

Grey market premium as on 03-03-2020 = Rs. 180-200/Share

Grey market premium as on 02-03-2020 = Rs. 260-270/Share

Grey market premium as on 01-03-2020 = Rs. 350-360/Share

Grey market premium as on 29-02-2020 = Rs. 350-360/Share

Grey market premium as on 28-02-2020 = Rs. 330-340/Share

Grey market premium as on 27-02-2020 = Rs. 330-340/Share

Grey market premium as on 26-02-2020 = Rs. 320-330/Share

Grey market premium as on 25-02-2020 = Rs. 340-350/Share

Grey market premium as on 24-02-2020 = Rs. 340-350/Share

Grey market premium as on 23-02-2020 = Rs. 340-350/Share

Grey market premium as on 22-02-2020 = Rs. 310-320/Share

Grey market premium as on 21-02-2020 = Rs. 310-320/Share

Grey market premium as on 20-02-2020 = Rs. 310-320/Share

Grey market premium as on 19-02-2020 = Rs. 290-300/Share

Grey market premium as on 18-02-2020 = Rs. 290-300/Share

Grey market premium as on 17-02-2020 = Rs. 290-300/Share

Grey market premium as on 16-02-2020 = Rs. 290-300/Share

Grey market premium as on 15-02-2020 = Rs. 290-300/Share

Grey market premium as on 14-02-2020 = Rs. 290-300/Share

Grey market premium as on 13-02-2020 = Rs. 250/Share

Grey market premium as on 12-02-2020 = Rs. 250/Share

Grey market premium as on 11-02-2020 = Rs. 250/Share

Grey market premium as on 10-02-2020 = Rs. 230-240/Share

Grey market premium as on 09-02-2020 = Rs. 230-240/Share

Grey market premium as on 08-02-2020 = Rs. 230-240/Share

Grey market premium as on 07-02-2020 = Rs. 230-240/Share

Grey market premium as on 06-02-2020 = Rs. 250-260/Share

Grey market premium as on 05-02-2020 = Rs. 250-260/Share

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