InvestorQ : What are the allocations that SBI Cards has made for the employees and the shareholders of State Bank of India?
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What are the allocations that SBI Cards has made for the employees and the shareholders of State Bank of India?

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Dilmini Mercia answered.
8 months ago
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Here are some important points to note about the allocation made by SBI Cards for the employees and the shareholders of SBI.

· SBI employees, who are eligible for the preferential offer, can avail discount of Rs.75 per share reducing their price band to Rs.675-680.

· Bids can be made for a minimum of 19 equity shares and in multiples of 19 equity shares thereafter. Minimum investment for employees of SBI will be Rs.12,920.

· SBI employees can make bids for a maximum of 722 equity shares. So maximum amount at Rs.680 per share will be Rs.4,90,960.

· Retail shareholders of SBI can apply for shares reserved for this category. They are eligible even if they own just one share of the bank.

· Initial allotment to SBI shareholders shall not exceed Rs.2 lakhs. An employee who is also a shareholder can put bids worth Rs.9 lakhs (2 lakh retail, 2 lakh shareholder, 5 lakh employee)

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