How to check SBI Cards IPO allotment status

• SBI Cards IPO share allotment is expected to be announced on March 11.
  
• You can visit the registrar’s website to check your allotment status.
  

SBI Cards, India’s second largest credit card issuer closed its initial public offer (IPO) on March 6 and set its final price at ₹755 per share. The SBI Cards share allocation is expected to be announced today, March 11, and the listing

The SBI Cards IPO has been oversubscribed 45.23 times by non-institutional investors and over 2.5 times by retail investors. The company raised ₹10,340 crore through the issue and received bids for over 266 crore shares against its offer of 10 crore shares.

How to check SBI Cards IPO allotment status

If you have applied for the SBI Cards IPO, you can check your allotment status by following the below steps:

• To check the SBI Cards allotment status, visit the registrar’s website here.
  
• Click on ‘Select company’ and click on SBI Cards.
  
• SBI Cards will only be visible once the allotment status is declared.
  
• You will have to enter either your PAN, application number or DP / Client ID.
  
• Now, enter the captcha.
  
• Then, click on ‘Submit’.
  

You will be able to see your application status. It will show the number of shares that you applied for and the number of shares that were allotted to you.

You can also visit the BSE India website to check your application status.

• Go to the BSE India website.
  
• Select ‘Equity’ and then from the dropdown, select ‘SBI Cards’.
  
• Now, enter your application number and PAN.
  
• Click on ‘Search’.
  

Coronavirus impact and an ambitious valuation might play spoilsport

The SBI Cards IPO has come at a time when the coronavirus outbreak has had a big impact on global and Indian financial markets. Fueled by coronavirus fears, BSE Sensex and Nifty tanked over 6% on March 9, but are charting a rebound as Sensex surged by over 300 points. However, the volatile nature of markets might not bode well for subscribers of the IPO which might lose its sheen on listing.

Another aspect that might hurt investors who have subscribed to the SBI Cards IPO is the ambitious valuation and price per share. The grey market premium has reportedly crashed from ₹300-350 levels to less than ₹100 today. That means investors might lose a chunk of their investment on the very first day of listing on March 16.

See also:

SBI Cards IPO is open to investors ⁠— India's second largest credit card seller is hot even before its market debut

SBI Cards IPO subscribed 22.45 times on final day of bidding

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