InvestorQ : How has been the response to the SBI Cards IPO on the first day that it opened on March 02, 2020 since markets are so volatile?
Niti Shenoi made post

How has been the response to the SBI Cards IPO on the first day that it opened on March 02, 2020 since markets are so volatile?

Answer
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Archita Jajjoo answered.
6 months ago


Normally, first day is hard to say since only retail investors put in bids on the first day. However, the response was more than encouraging on the first day. IPO of SBI Cards was subscribed 0.39 times at the end of Day 1. However, what was more gratifying was the retail portion had been subscribed 0.62 times till the end of the first day. This is a good sign since most of the HNI and institutional applications come in on the last day of the IPO, which is the 05th of March. Many of HNIs also put in funded applications which come in on the lat day. In spite of markets facing deep cuts in the last one week, the response to the SBI Cards IPO has been pretty encouraging considering the unique business model and also the pedigree of the SBI group backing them. The issue could most likely get fully subscribed in the retail portion by the end of the second day itself; at least that is what it looks like.