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SBI Cards, the second largest credit card issuer has announced the allotment status of its IPO. The IPO was closed on March 6 and the final price per share has been set at ₹755 per share.
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Like most IPOs, the SBI Cards IPO was also oversubscribed. It was oversubscribed 45.23 times by non-institutional investors and over 2.5 times by retail investors.
Everyone who applied for the SBI Cards IPO has been waiting for the allotment announcement. Here’s everything you need to know about the SBI Cards allotment.
When will SBI Cards allotment be announced?
The SBI Cards allotment has been posted on the registrar’s website. The registrar for SBI Cards IPO is Link Intime India.
How to check SBI Cards allotment status?
You can check the SBI Cards IPO allotment status by visiting the registrar’s website or the BSE India website.
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To check the SBI Card IPO allotment status, visit the registrar’s website here.
Click on ‘Select Company’ and then select ‘SBI Cards’.
Now, enter either your PAN, application number or DP / Client ID.
Now, enter the captcha.
Click on submit.
You will now be able to see your application status. It will show the number of shares that you applied for and the number of shares that have been allotted to you.
Relief for Yes Bank customers
A major relief has been granted to Yes Bank customers who had applied for the SBI Cards IPO. They can be allotted shares but with a condition. They will have to make payment using an alternate bank account if they are allotted shares.
Of the total ₹10,300 crore share sale, bids worth approximately ₹1,500 crore were received from Yes Bank customers. Of this, over ₹150 crore were from retail investors.
When will the shares be listed?
The SBI Cards shares are expected to be listed on March 16. We should know more about the listing once the allotment is announced.
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Coronavirus may affect the listing price and the investors may not get the bumper listing they were hoping for. As per experts, the earlier expected 40% premium has been reduced to 8 to 10%. It may shrink even further if coronavirus continues to spread as its rapid pace affecting stock markets and spooking investors.
