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SBI Cards and Payment Services has raised Rs 2,769 crore from 74 anchor investors, ahead of its initial share sale starting on March 2. Anchor investors are institutional investors who are offered shares in an initial public offering (IPO) ahead of its opening. Singapore government, Monetary Authority of Singapore, HDFC Mutual Fund, Government Pension Fund Global and Birla Mutual Fund, are among the anchor investors. Shares have been allotted at the offer's upper price band of Rs 755 apiece, as per a regulatory filing. There are 12 mutual funds among the 74 anchor investors, who have been allocated 3,66,69,589 shares and its value stood at Rs 2,768.55 crore. The price band for the share sale -- which would be open from March 2 to 5 -- has been fixed at Rs 750-755 apiece. SBI Cards expects to raise around Rs 9,000 crore through the IPO. As per draft paper for the IPO, SBI Cards would offer up to 130,526,798 equity shares through an offer-for-sale route. This would include offloading of up to 37,293,371 shares by SBI and 93,233,427 scrips by Carlyle Group. In addition, the company would issue fresh equity shares worth Rs 500 crore. SBI holds 76 per cent in SBI Cards and the rest of the stake is held by Carlyle Group.

Singapore government, HDFC Mutual Fund, Birla Mutual Fund invest in SBI cards and payment services

New Delhi, Feb 28 () SBI Cards and Payment Services' initial public offer of around Rs 9,000 crore will open for subscription on March 2 amid volatile stock markets due to deepening concerns over coronavirus outbreak. For qualified institutional buyers (QIBs), the subscription will close on March 4 while the issue closes on March 5, SBI Cards and Payment Services managing director and chief executive Hardayal Prasad said on Friday. SBI Cards has set the price band at Rs 750-755 for the share sale. According to drafts paper, the proceeds from the IPO will be used to augment the firm's capital base to meet future capital requirement. "The net proceeds are proposed to be utilised for augmenting our Company's capital base which will be utilised towards company's business and growth including towards extending credit to our customers, meeting our operating expenditure and future working capital requirements which are expected to arise out of the growth of our business," it said. According to the draft papers, SBI Cards will offer up to 130,526,798 equity shares through an offer-for-sale route. This will include up to 37,293,371 share sale by SBI and up to 93,233,427 shares on offer by Carlyle Group. In addition, the company will also issue fresh equity shares of Rs 500 crore. SBI holds 76 per cent in SBI Cards and the rest of the stake is held by Carlyle Group. SBI Cards is the second-largest credit card issuer in India with an 18 per cent market share, Prasad said. The IPO is hitting the market at a time when investor sentiment is shaken by growing coronavirus concerns. Market benchmark index Sensex plummeted 1,448 points on Friday following a manic global selloff as market participants fretted over the impact of the rapidly-spreading coronavirus. According to analysts, markets are increasingly getting worried about the rapid outbreak of coronavirus across geographies and the consequent economic fallout. SRS MRMR

SBI Cards and Payment Services' IPO open for subscription between Mar 2-5

<ul><li>Paras Defence and Space Technologies gets subscribed 10.63 times in the first hour on the first day of bidding.</li><li>The portion reserved for retail investors has been subscribed 20.58 times.</li><li>Analysts believe the IPO is a good bet for the long term considering it gets 50% of its revenue from government entities.</li></ul>The public issue of Mumbai-based Paras Defence and Space Technologies is already a hit among investors in just one hour of bidding on the first day. The majority of the demand was from retail investors as the portion reserved for retail investors was subscribed 20.58 times. The issue size was subscribed 10.63 times on the first day of the issue on September 21 as of 2 p.m. The initial public offering (IPO) got good response from investors in terms of subscription compared to other recent IPOs. The defence company’s IPO received bids for 7.26 crore equity shares against the IPO size of 68.31 lakh equity shares. <table style="border-width: initial; border-style: none;"></colgroup><tbody><tr><td style="border-left:solid #cccccc 0.75pt;border-right:solid #cccccc 0.75pt;border-bottom:solid #cccccc 0.75pt;border-top:solid #cccccc 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Category </td><td style="border-left:solid #cccccc 0.75pt;border-right:solid #cccccc 0.75pt;border-bottom:solid #cccccc 0.75pt;border-top:solid #cccccc 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Subscription Status </td></tr><tr><td style="border-left:solid #cccccc 0.75pt;border-right:solid #cccccc 0.75pt;border-bottom:solid #cccccc 0.75pt;border-top:solid #cccccc 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Qualified Institutional Buyers </td><td style="border-left:solid #cccccc 0.75pt;border-right:solid #cccccc 0.75pt;border-bottom:solid #cccccc 0.75pt;border-top:solid #cccccc 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">00 times </td></tr><tr><td style="border-left:solid #cccccc 0.75pt;border-right:solid #cccccc 0.75pt;border-bottom:solid #cccccc 0.75pt;border-top:solid #cccccc 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Non-institutional </td><td style="border-left:solid #cccccc 0.75pt;border-right:solid #cccccc 0.75pt;border-bottom:solid #cccccc 0.75pt;border-top:solid #cccccc 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;"> 1.59 times </td></tr><tr><td style="border-left:solid #cccccc 0.75pt;border-right:solid #cccccc 0.75pt;border-bottom:solid #cccccc 0.75pt;border-top:solid #cccccc 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Retail individual </td><td style="border-left:solid #cccccc 0.75pt;border-right:solid #cccccc 0.75pt;border-bottom:solid #cccccc 0.75pt;border-top:solid #cccccc 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">20.58 times </td></tr><tr><td style="border-left:solid #cccccc 0.75pt;border-right:solid #cccccc 0.75pt;border-bottom:solid #cccccc 0.75pt;border-top:solid #cccccc 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Total </td><td style="border-left:solid #cccccc 0.75pt;border-right:solid #cccccc 0.75pt;border-bottom:solid #cccccc 0.75pt;border-top:solid #cccccc 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">10.63 times </td></tr></tbody></table> Typically, non-institutional investors get into the race on the last day as they don’t prefer to park higher funds without earning an interest on them. The IPO consists of ₹140.6 crore fresh issue and offer for sale worth ₹30.17 crore by the promoters with a price band of ₹165-175 a share. The company is primarily engaged in the designing, developing, manufacturing, and testing of a variety of defence and space engineering products and solutions. Analysts are bullish on the IPO as it highlights the company’s ability to benefit from the government’s ‘Make in India’ initiative along with its strong order book. The company derives majority of its business from government entities in the defence and space sector. As of FY21, government and private entities generated 50.8% and 32.3% revenue, while the rest was from exports. It has a strong order book of ₹304 crore as of June 30, 2021. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/finance/banks/news/srei-group-may-leave-4-billion-dollar-hole-in-icici-bank-axis-bank-uco-bank-and-canara-bank/articleshow/86389825.cms">Srei Group may leave a $4 billion hole in some of India’s biggest banks</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/sbi-cards-is-down-as-carlyle-dumps-shares-but-the-credit-cards-business-is-bouncing-back/articleshow/86390713.cms">SBI Cards is down as Carlyle dumps shares but the credit cards business is bouncing back</a>

Paras Defence and Space Technologies’ IPO gets fully subscribed by retail investors on first day

New Delhi, Feb 17 () SBI Cards and Payment Services, the credit card unit of the country's largest lender State Bank of India (SBI), has received markets regulator Sebi's go ahead to float an initial public offering. The company, which had filed draft IPO papers in November, obtained "observations" from the Securities and Exchange Board of India (Sebi) on February 11 latest update with the regulator showed. Sebi's observations are necessary for any company to launch public issues including initial public offer, follow-on public offer and rights issue. As per the draft papers, SBI Cards will offer up to 130,526,798 equity shares through offer for sale route. This will include up to 37,293,371 share sale by SBI and up to 93,233,427 shares on offer by Carlyle Group. In addition, the company will also issue fresh equity shares of Rs 500 crore. SBI holds 76 per cent in SBI Cards and rest of the stake is held by Carlyle Group. According to market sources, the IPO size could be estimated at more than Rs 6,000 crore. SBI Cards is the second-largest credit card issuer in India with an 18 per cent market share. Kotak Mahindra Capital, Axis Capital, DSP Merryl Lynch, Nomura Financial Advisory, HSBC Securities and SBI Capital Markets are the book-running lead managers of the issue. Earlier in December, SBI Chairman Rajnish Kumar had said the SBI Cards IPO would be launched in the coming months. Apart from SBI Cards, Mukesh Trends Lifestyle has also received Sebi's go ahead on February 14 to launch its IPO. The Ahmedabad-based company's IPO consists an issue of up to 1 crore equity shares of face value of Rs 10 each and according to market sources, the IPO issue size will be approximately between Rs 70 and 90 crore. SP SHWSHW

SBI Cards gets Sebi's go ahead to float IPO

<ul><li>Indian markets regulator has approved 16 IPOs worth ₹16,000 crore to go public. </li><li>In 2019, Indian companies raised ₹1.25 lakh crore from IPOs in 2019. </li><li>Edelweiss expects the list of IPOs to swell in the coming months due to ample ‘liquidity’ in the market.</li></ul>From a subsidiary of the country’s largest bank, the State Bank of India, to a burger joint rivalling McDonald's— there is a whole range of companies that want to get listed on Indian stock exchanges this year. Indian markets regulator Securities and Exchange Board of India (SEBI) approved 16 IPOs worth ₹16,000 crore ($2.24 billion). And, yet another 13 companies which want to raise as much as ₹21,200 crore are await approval, says a report by Edelweiss Broking. These companies might want to replicate the success they saw last year. In 2019, new public issues raised as much as ₹1.25 lakh crore. “We expect the pipeline to grow stronger and larger as the year passes by,” the report stated. As per the report, there is enough money floating in the market hunting for the right opportunities. Let’s take a look at some of the top IPOs scheduled this year: SBI Cards and Payment Services 
 <div type="image" title="SBI Cards &amp;amp; Payment Services Limited." msid="73799504" hostid="261" caption="&amp;lt;p&amp;gt;&amp;lt;b style=&amp;quot;&amp;quot;&amp;gt;Mr. Hardayal Prasad, MD &amp;amp;amp; CEO, SBI Cards &amp;amp;amp; Payment Services Limited&amp;lt;/b&amp;gt;.&amp;lt;/p&amp;gt;"></div>



 
 
 




 SBI Cards and Payments Services is a subsidiary of the country’s largest bank SBI. It is planning to raise around ₹9,600 crore, according to SEBI document. SBI Cards IPO comprises fresh issuance of equity shares aggregating up to ₹500 crores, according to the <a href="https://www.sebi.gov.in/filings/public-issues/dec-2019/sbi-cards-and-payment-services-limited_45160.html">SEBI’s draft offer document</a>. SBI Cards is the second-largest credit card issuer in the country with almost 9.4 million outstanding cards. The parent bank SBI holds 76% stake in SBI Cards and the rest is held by Carlyle Group, a private equity company. Bajaj Energy 
 
 
 <div type="image" title="Bajaj Energy" msid="73722020" hostid="261" caption="&amp;lt;p&amp;gt;credit: Bajaj Energy&amp;lt;/p&amp;gt;"></div>







 Bajaj Energy is one of the largest private-sector thermal generation companies in Uttar Pradesh. It received approval to raise as much as ₹5,450 crore. The IPO comprises fresh issuance of shares aggregating up to ₹5,150 crore and an offer for sale of scrips up to ₹300 crore by Bajaj Power Ventures, according to the <a href="https://www.sebi.gov.in/filings/public-issues/apr-2019/bajaj-energy-limited_42638.html">SEBI’s draft offer documents</a>. Burger king 
 
 
 <div type="image" title="Burger King." msid="73722033" hostid="261"></div>







 The rival of McDonald’s, Burger King is one of the fastest-growing food chains in India. As per <a href="https://www.sebi.gov.in/filings/public-issues/nov-2019/burger-king-india-limited_44876.html">SEBI’s draft offer documen</a>t, it plans to raise as much as ₹1,000 crores. This equity will help Burger King plans to double the number of restaurants by 2025, where it currently operates 216 in India. Easy Trip Planners 
 
 
 <div type="image" title="Ease Trip" msid="73722053" hostid="261" caption="&amp;lt;p&amp;gt;credit: EaseMy Trip&amp;lt;/p&amp;gt;"></div>







 The Indian online travel company headquartered in Delhi too is floating a ₹150 crore IPO, according to<a href="https://www.sebi.gov.in/filings/public-issues/dec-2019/easy-trip-planners-limited_45323.html"> SEBI draft papers</a>. It is also issuing fresh issue aggregating up to ₹400 crore. Equitas Small Finance Bank 
 
 
 <div type="image" title="equitas" msid="73722061" hostid="261" caption="&amp;lt;p&amp;gt;credit: Equitas/Facebook&amp;lt;/p&amp;gt;"></div>







 Equitas Small Finance Bank is a Chennai-based microfinance lender. It is looking to raise ₹550 crore as fresh capital, according to the <a href="https://www.sebi.gov.in/filings/public-issues/dec-2019/equitas-small-finance-bank-limited_45353.html">SEBI draft document</a>. The size of the IPO is expected to be at around ₹1,000 crore.

India has IPOs worth $5 billion lined up this year⁠— here’s a look at the top candidates

<ul><li><keyword id="6354731" type="General" weightage="20" keywordseo="state-bank-of-india" source="Orion">State Bank of India</keyword> in a statement said that the lender is exploring opportunities to offload 6% stake in the <keyword id="13222" type="General" weightage="20" keywordseo="sbi" source="Orion">SBI</keyword> Funds Management through <keyword id="6354763" type="General" weightage="20" keywordseo="ipo" source="Orion">IPO</keyword> route.</li><li>Currently, SBI has 63% stake in the fund house while the MF is reportedly valued at $7 billion.</li><li><keyword id="164487" type="General" weightage="20" keywordseo="sbi-mf" source="Orion">SBI MF</keyword> will be the third fund house to get listed on exchanges after UTI AMC and HDFC AMC.</li></ul>India’s largest lender, State Bank of India (SBI) has informed exchanges on Wednesday that SBI Mutual Fund (MF) may get listed and that SBI is looking to sell 6% stake in the company through the initial public offering (IPO). Currently, SBI has a 63% stake in the fund house and the remaining 37% is held by Paris-based AMUNDI Asset Management. SBI MF is a joint venture between SBI and AMUNDI Asset Management. A <a href="https://www.bloomberg.com/news/articles/2021-12-15/biggest-india-bank-exploring-ipo-for-mutual-fund-jv">Bloomberg report </a>said that the bank is looking to raise $1 billion through this IPO. <div type="image" title="SBI share" height="900" width="1200" msid="88292744" hostid="261"></div> SBI MF will become the third fund house to get listed on exchanges after UTI Asset Management and HDFC Asset Management. The fund house made a profit of ₹862 crore in FY21 from a total income of ₹1,619 crore. Also, it is among the top fund houses in the country with assets under management of ₹5.78 lakh crore as of September quarter. <a href="https://www.livemint.com/industry/banking/sbi-to-explore-offloading-6-stake-in-mf-arm-via-ipo-11639540226501.html">Reports </a>say that SBI’s plan to list the mutual fund arm is part of its strategy to monetise its non-core operations after divesting some of its stakes in life insurance and cards businesses last year. SBI had raised over ₹10,340 crore through the listing of SBI Cards and ₹8400 crore through SBI Life IPO. SEE ALSO:

SBI Mutual Fund to come up with an IPO; SBI to sell 6% out of 63% stake via the public issue

New Delhi, Mar 2 () The initial public offer of SBI Cards and Payment Services was subscribed 39 per cent on the first day of bidding on Monday.The IPO received bids for 3,94,54,754 shares against the total issue size of 10,02,79,411 shares, as per data available with the NSE.The portion reserved for retail investors was subscribed 62 per cent while those of non institutional investors 12 per cent, according to merchant banking sources.On the first day of bidding itself, the public offer received 8.52 lakh applications, they added.The initial public offer (IPO) comprises a fresh issue of Rs 500 crore and an offer for sale of 13,05,26,798 equity shares including anchor portion of 3,66,69,589 equity shares.Price range for the offer has been fixed at Rs 750-755 per share.SBI Cards expects to raise around Rs 10,355 crore through the IPO.SBI Cards and Payment Services has raised Rs 2,769 crore from 74 anchor investors.Kotak Mahindra Capital Company, Axis Capital, DSP Merrill Lynch, HSBC Securities and Capital Markets (India), Nomura Financial Advisory and Securities (India) and SBI Capital Markets are managing the offer.For QIB bidders, the issue will close on Wednesday and for all other bidders it will close on Thursday.SBI holds 76 per cent stake in SBI Cards and the rest of the stake is held by Carlyle Group. SUM ANUANU

SBI Cards IPO subscribed 39 pc on first day of bidding

(Eds: Adding details) New Delhi, Mar 5 () Eliciting a robust response, the initial share sale of SBI Cards and Payment Services was subscribed 22.45 times on the final day of bidding on Thursday even as the broader market sentiment remained at a low ebb on coronavirus concerns.The Initial Public Offer (IPO) of SBI Cards, part of the country's largest public sector lender SBI, is also one of the largest share sale in recent times, both in terms of size and oversubscription.More than 225 crore bids were received for the offer worth Rs 10,355 crore. A total of 10 crore shares were up for bidding, as per NSE data till 1830 hrs.Non-institutional investors category was subscribed 45 times and retail individual investors 2.5 times, according to merchant banking sources.Sources said there was blockbuster response to SBI Cards IPO despite challenging market conditions and that the offer has been subscribed more than 26 times. For Qualified Institutional Buyers (QIB), the issue closed on Wednesday and for all other bidders it closed on Thursday. The QIB category was subscribed 57.18 times, as per the NSE data. The offer comprised fresh issue of shares worth Rs 500 crore and an offer-for-sale of 13,05,26,798 shares, including anchor portion of 3,66,69,589 shares. At the upper end of the Rs 750-755 apiece price band, the sale would fetch Rs 10,355 crore. SBI Cards IPO is among the largest in terms of oversubscription value in at least 12 years. The initial share sales of Reliance Power and Coal India had attracted more interest during this period.Over 37 lakh applications were received for SBI Cards offer, generating demand to the tune of Rs 2 lakh crore, the sources said.The company had raised Rs 2,769 crore from 74 anchor investors on February 29.Currently, State Bank of India (SBI) holds 76 per cent stake in SBI Cards while the rest is with Carlyle Group. Kotak Mahindra Capital Company, Axis Capital, DSP Merrill Lynch, HSBC Securities and Capital Markets (India), Nomura Financial Advisory and Securities (India) and SBI Capital Markets are the managers to the offer. SUM RAM MRMR

SBI Cards IPO elicits strong investor response; gets subscribed over 22 times

<ul><li>The IPO of the quick-service restaurant (QSR) chain was subscribed 157 times on the final day of bidding.</li><li>The stellar response makes it the second most successful IPO of 2020 after Mazagon Dock shipbuilders.</li><li><keyword id="33542" type="COMPANY" weightage="20" keywordseo="Burger-King">Burger King</keyword> allotment status will be announced on December 9, and the shares will hit the bourses on December 14. </li><li><a href="https://www.businessinsider.in/">Check out the latest news and updates on Business Insider.</a></li></ul>The ₹810 crore initial public offering (IPO) of <keyword id="2588696" type="PERSON" weightage="20" keywordseo="Burger-King-India">Burger King India</keyword> has seen a ‘whopper’ response from investors on the final day of offering. The public issue of the quick-service restaurant (QSR) chain was subscribed 157 times on December 4, the final day of bidding. This makes it the <a href="https://www.chittorgarh.com/report/top_10_ipo_by_subscription_yearly/10/">second most successful IPO of 2020</a> by subscription after Mazagon Dock shipbuilders. The non-institutional investor portion was the most subscribed, followed by qualified institutional buyers and individual retail investors. <table style="border-width: initial; border-style: none;"></colgroup><tbody><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Burger King India </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">QIB </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">NII </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">RII </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Total </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">IPO subscription </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">86.64x </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">354.11x </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">67.41x </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">156.52x </td></tr></tbody></table> The appetite for Burger King India’s IPO has been building up with the issue getting subscribed on day one itself. Given its robust franchisee model, valuations, and strong expansion plans — analysts had recommended subscribing to this IPO. According to Angel Broking, Burger King was priced at a significant discount compared to Jubilant Foodworks and looking at the valuation and the growth of the company, the issue was ‘attractive.’ The IPO opened up on December 2, and ahead of the offering, the company raised ₹364.5 crore from 55 anchor investors, including ICICI Prudential, Fidelity Funds, Government of Singapore, IDFC MF, SBI MF, among others. The IPO price band was set at ₹59-60 per share, and the grey market premium promises strong listing gains. The grey market premium of the food giant also soared nearly 58% to ₹34-35, up from 42% on the first day of subscription. The grey market premium is the measure of the extra amount that the market is ready to pay for a newly listed company’s shares. However, it is not an official measure of the market premium. But it is a fair indicator of demand for the shares in the market. Listing and subscription status <keyword id="8291503" type="UNKNOWN" weightage="20" keywordseo="Burger-King-IPO">Burger King IPO</keyword> The basis of allotment for Burger King IPO will be announced on December 9, and the shares will hit the bourses on December 14. Once the basis of allotment is done, the investors can check their subscription status on Burger King IPO registrar’s Link Intime India Private <a href="https://linkintime.co.in/MIPO/IPO.aspx">website</a>. However, after this stellar response that Burger King India IPO has garnered, one thing is certain — not all investors will get the same amount of shares that they had subscribed for. SEE ALSO: <a href="https://www.businessinsider.in/tech/news/a-coordinated-global-network-of-hackers-tried-to-break-into-the-covid-19-cold-chain-which-transports-vaccines-at-94-degrees-fahrenheit/articleshow/79549902.cms" data-type="tilCustomLink">A coordinated, global network of hackers tried to break into the COVID-19 'cold chain,' which transports vaccines at -94 degrees Fahrenheit</a> <a href="https://www.businessinsider.in/tech/news/sbis-mobile-banking-app-is-down-for-the-third-time-in-last-30-days/articleshow/79548953.cms" data-type="tilCustomLink">SBI’s mobile banking app is down for the third time in 30 days — digital services take a hit for the 25th time this year</a>

Everyone wants a bite of the Burger King India IPO

Mumbai, Feb 25 () The second largest card issuer SBI Cards &amp; Payment Services, which is hitting the primary market with a Rs 9,000-crore initial public offering, has set the price band for the share sale at Rs 750-755. The IPO, opening on March 2 and closing on 4, comprises fresh issue of equity shares aggregating to Rs 500 crore and an offer for sale where promoters will offload nearly 13 crore shares. Promoters SBI and Carlyle Group will offload 3.73 crore shares and 9.32 shares respectively. SBI holds 74 per cent in SBI Card and the rest by the Carlyle Group and they will pare their stakes by 4 per cent and 10 per cent respectively, SBI Managing Director Dinesh Khara told reporters kicking of the IPO roadshow. SBI Card's market share in terms of the number of credit cards outstanding is 18 per cent. The pure-play credit card company's gross NPA stood at 2.47 per cent in December 2019 compared to 2.44 per cent in March 2019 and 2.83 per cent in March 2018, he said. SBI Card managing director and chief executive Hardayal Prasad attributed the spike in gross NPAs in March 2018 to the entry into new markets post-demonetisation but it did not generate the desired results. "We were testing some waters but it didn't work out the way we were thinking and the delinquency went up to 2.8 per cent. We have worked assiduously in terms of reducing the numbers, and 2.4-2.5 per cent is what we are continuously looking at and would like to maintain it," Prasad said. SBI Card was launched in October 1998 by SBI and GE Capital but in December 2017, GE sold back its stake to State Bank of India and the Carlyle Group. Talking about the merchant discount rate (MDR), Khara said MDR has not been removed for credit cards but only for debit cards. MDR is the fee collected by banks from merchants processing the transactions. Last December, Finance Minister Nirmala Sitharaman had said no MDR charges would be applicable on transactions through RuPay and UPI platforms from January 1, 2020. HV MRMR

SBI Cards & Payment Services sets IPO price band at Rs 750-755

(Eds: Updating with fresh inputs) New Delhi, Mar 4 () SBI Cards and Payment Services initial public offer was subscribed 15.15 times so far on the third day of bidding on Wednesday.The initial public offer (IPO) received bids for over 151 crore shares against the total issue size of 10 crore shares, as per data available with the NSE till 1615 hours.The IPO comprises a fresh issue of Rs 500 crore and an offer for sale of 13,05,26,798 shares, including anchor portion of 3,66,69,589 shares.Price range for the offer has been fixed at Rs 750-755 per share.SBI Cards expects to raise around Rs 10,355 crore through the IPO.The company has raised Rs 2,769 crore from 74 anchor investors.For QIB Bidders the issue will close on Wednesday and for all other bidders it will close on Thursday.Kotak Mahindra Capital Company, Axis Capital, DSP Merrill Lynch, HSBC Securities and Capital Markets (India), Nomura Financial Advisory and Securities (India) and SBI Capital Markets are the managers to the offer.State Bank of India holds 76 per cent stake in SBI Cards, while the rest of the stake is held by Carlyle Group. SUMBAL

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