InvestorQ : What are the final subscription figures for the SBI Cards IPO? Did it substantially oversubscribed?
Khushi Patel made post

What are the final subscription figures for the SBI Cards IPO? Did it substantially oversubscribed?

Answer
user profile image
Anjana Aiyar answered.
6 months ago


Considering the state of the markets and the volatility globally, you can say that the oversubscription was extremely impressive. In fact, SBI Cards got a bumper response despite coming out with the IPO at a time when markets have been in a state of turmoil. While the retail portion got oversubscribed by 2.50 times, the HNI portion got oversubscribed by 45 times. Even the portion reserved for employees get oversubscribed by 4.75 times. The institutional portion had closed on Wednesday with 57 times oversubscription. Both the shareholders of SBI Cards; SBI and Carlyle Group will be diluting their stake via OFS while the company will also raise around Rs.500 crore as a fresh issue. The total issue size was around Rs.10,354 crore. Perhaps the retail portion may have been higher if the markets had been a little more supportive but thanks to the brand of SBI, the issue has done very well.