Mumbai. SBI card IPO could come within the final week of this month. According to media reviews, the Security and Exchange Board of India (SEBI) has permitted the IPO. SBI Card is a subsidiary of the nation's largest financial institution SBI. An IPO might be raised via an IPO at a valuation of Rs 55,000-60,000 crore for SBI card. <! –
IPO consists of Rs 500 crore recent subject
In November final yr, an software was made with SEBI for the IPO of SBI Card. Under this, 13,05,26,798 shares shall be bought. SBI will promote 3,72,93,371 shares and CA Rover Holdings 9,32,33,427 shares. In addition to this, a recent subject of shares value Rs 500 crore will even be included. SBI card will use the quantity acquired from the recent subject for future wants. SBI (Bank) holds 74% stake in SBI Card. The remaining 26% shares are held by CA Rover Holdings.
35.6 p.c annual progress in bank card utilization
SBI Cards is the second largest bank card firm within the nation. It has 18% market share. HDFC Cards is at primary with 27% share. In the final three years, the annual fee of progress of bank card utilization has been 35.6%. During this time the bank card excellent fee was 25.6%.