SBI Card Finalises IPO Price Band at ₹750-₹755 Per Share

Mumbai: The second largest card issuer SBI Cards & 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 2 March 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 percent in SBI Card and the rest by the Carlyle Group and they will pare their stakes by 4 percent and 10 percent respectively, SBI Managing Director Dinesh Khara told reporters kicking of the IPO roadshow.