SBI Cards & Payment Services is a Non-Deposit accepting Systemically Important Non-Banking Financial Company (NBFC-NDSI) registered with Reserve Bank of India (RBI) vide Registration Number 14.01328 under section 45 IA of the RBI Act,1934. Accordingly, all provisions of the Reserve Bank Act 1934 and all directions, guidelines or instructions of the RBI that have been issued from time to time and are in force and as applicable to a Non-Banking Financial Company are applicable to the company.
| Bidding Dates |
|---|
| 02 Mar 2020 - 05 Mar 2020 |
| Subscription |
|---|
| 26.54x Oversubscribed |
| Minimum Investment | Minimum Lot | Maximum Lot | Lot Size | Number of Shares | Issue Price Band | Post Issue Promoter Holding % | Issue Size | IPO Document |
|---|---|---|---|---|---|---|---|---|
| ₹14,345 | 1 | 13 | 19 | 137.2 M | ₹750 - ₹755 | 85.39 % | ₹102895.1 M - ₹103581.1 M | RHP DOC |
SBI Cards and Payment IPO SUBSCRIPTION STATUS
05 Mar '20SBI Cards and Payment IPO overall subscription rate was 26.54 times the total available shares
SBI Cards and Payment IPO retail subscription rate was 2.5 times in the retail segment
SBI Cards and Payment IPO non-institutional investor subscription rate was 45.23 times in the non-institutional investor category
SBI Cards and Payment IPO Qualified Institutional Bidder subscription rate was 57.18 times the available shares for Qualified Institutional Bidder
SBI Cards and Payment IPO Employees subscription rate was 4.74 times in the Employees category
SBI Cards and Payment IPO Other subscription rate was 25.36 times in the Other category
| Day | Retail Individual Investor | HNI (NII) Investors | Qualified Institutional Buyers | Employees | Other |
|---|---|---|---|---|---|
| Category Reservation | 35% | 15% | 50% | - | - |
03 Mar 2020 (Day 2) | 1.21x | 0.47x | 0.21x | 1.84x | 1.41x |
04 Mar 2020 (Day 3) | 1.77x | 2.19x | 57.18x | 3.29x | 3.54x |
05 Mar 2020 (Day 4) | 2.5x | 45.23x | 57.18x | 4.74x | 25.36x |
02 Mar 2020 (Day 1) | 0.62x | 0.12x | 0x | 0.8x | 0.69x |
SBI Cards and Payment FINANCIALS
| Period | Net Profit (Rs in millions) | Revenue from operations (Rs in millions) | Cash Flow from operations (Rs in millions) | Free Cash flow (Rs in millions) |
| 9MFY20 | 11,612.1 | 68,430.6 | -48,654.5 | -49,267.7 |
| 9MFY19 | 6,145.2 | 50,839.2 | -22,435.1 | -22,915.9 |
| FY19 | 8,627.2 | 69,991.1 | -23,649.4 | -24,576.7 |
| FY18 | 6,011.4 | 51,869.8 | -28,770.9 | -29,123.5 |
| FY17 | 3,728.6 | 33,462.0 | -22,348.8 | -22,361.6 |
SBI Cards and Payment IPO SUBSCRIPTION STATUS DETAILS
SBI Cards and Payment had 137.2 M shares on offer
SBI Cards and Payment IPO offer price was in the range ₹750 - ₹755
SBI Cards and Payment IPO minimum Investment was ₹14345
SBI Cards and Payment IPO issue size was ₹ 102895.1 M - ₹ 103581.1 M
SBI Cards and Payment had a minimum lot size of 19 Shares per application
SBI Cards and Payment NUMBER OF SHARES ON OFFER
SBI Cards and Payment IPO IMPORTANT DATES
| Issue Open Date | 02 Mar 2020 |
| Issue close Date | 05 Mar 2020 |
| Allotment Date | 11 Mar 2020 |
| Refund Date | 12 Mar 2020 |
| Demat Account Credit Date | 13 Mar 2020 |
| Listing Date | 16 Mar 2020 |
| Listing on Exchange(s) | NSE and BSE |
| SBI Cards and Payment Allotment Status | Exchange |
SBI Cards and Payment IPO subscription opened on 02 Mar 2020, and closed on 05 Mar 2020
IPO allotment for SBI Cards and Payment was finalized on Wednesday, 11 Mar 2020
IPO listing for SBI Cards and Payment was on NSE and BSE on Monday, 16 Mar 2020
SBI Cards and Payment IPO LISTING GAINS
| Issue Price (adjusted) | 755.0 |
| Listing Open Price | 658.0 |
| Listing Close Price | 683.2 |
| Listing Gain% | -12.8% |
| Current Gain% | -13.9% |
SBI Cards and Payment Peer
| Stock | Stock Price | Market Cap (Rs crore) | PE TTM | PEG TTM | PS TTM | ROE% | ROA% | Annual Revenue (Rs crore) | Annual Revenue Growth % | Annual Net Profit (Rs crore) | Annual Net Profit Growth % | EPS TTM | EPS TTM Growth % |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| SBI Cards and Payment Services Ltd. | 650 | 61036.9 | 27.2 | 1.3 | 3.1 | 13.8 | 3.3 | 20707.6 | 11.1 | 2166.7 | 13.1 | 23.9 | 21.2 |
| Bajaj Finance Ltd. | 1093.3 | 680683.6 | 33.5 | 2 | 7.9 | 16.7 | 3.4 | 81989.5 | 17.6 | 19017.4 | 14.3 | 32.6 | 16.5 |
| Shriram Finance Ltd. | 1129.9 | 265859.6 | 23.5 | 1.4 | 5.3 | 15.2 | 3.1 | 48192.6 | 15.1 | 10024.2 | 4.9 | 48.1 | 16.8 |
| Jio Financial Services Ltd. | 252.8 | 166894.4 | 80.8 | 3 | 34 | 1.2 | 1 | 3542.6 | 70.4 | 1560.9 | -3.2 | 3.1 | 27.2 |
| Cholamandalam Investment & Finance Company Ltd. | 1914.4 | 161344.5 | 28.1 | 1 | 4.9 | 17.2 | 2.1 | 31538.7 | 20.6 | 5232.6 | 22.8 | 68.2 | 29.1 |
| Tata Capital Ltd. | 367.2 | 155871.6 | 28.8 | 1 | 4.8 | 10.8 | 1.7 | 31582.6 | 11.3 | 4846.1 | 32.2 | 12.7 | 28.9 |
SBI Cards and Payment IPO Reports
SBI Cards and Payment INFORMATION ON IPO ISSUE
About SBI Cards and Payment
SBI Cards & Payment Services is a Non-Deposit accepting Systemically Important Non-Banking Financial Company (NBFC-NDSI) registered with Reserve Bank of India (RBI) vide Registration Number 14.01328 under section 45 IA of the RBI Act,1934. Accordingly, all provisions of the Reserve Bank Act 1934 and all directions, guidelines or instructions of the RBI that have been issued from time to time and are in force and as applicable to a Non-Banking Financial Company are applicable to the company.
Object of the Issue
- Gross proceeds are proposed to be utilised for augmenting the capital base to meet future capital requirements
SBI Cards and Payment - PROMOTERS
| Name |
|---|
| State Bank of India |
SBI Cards and Payment Book Running Lead Manager
Kotak Mahindra Capital Company Limited
sbicard.ipo@kotak.com
Axis Capital Limited
sbicards.ipo@axiscap.in
DSP Merrill Lynch Limited
dg.sbicard_ipo@bofa.com
HSBC Securities and Capital Markets (India) Private Limited
sbicardipo@hsbc.co.in
SBI Capital Markets Limited
sbicard.ipo@sbicaps.com
Nomura Financial Advisory and Securities (India) Private Limited
sbicardipo@nomura.com
SBI Cards and Payment Registrar to the Offer
Link Intime India Private Limited
sbicard.ipo@linkintime.co.in
SBI Cards and Payment Strengths
Second largest credit card
Second largest credit card issuer in India with deep industry expertise and a demonstrated track record of growth and profitability
Diversified customer acquisition capabilities
The company has a diversified customer acquisition network that allows it to engage prospective customers across multiple platforms
Supported by a strong brand and pre-eminent Promoter
Substantially all of our credit cards carry the SBI Card brand, which is a highly trusted and recognizable brand in India
SBI Cards and Payment Risks
Dependent on brand
The company uses the “SBI” brand of promoter and is exposed to the risk that the “SBI” brand may be affected by events beyond its control and that the promoter may prevent it from using it in the future
Unsupported credit card portfolios
Substantially all of the credit card portfolios is unsupported by any collateral that could help ensure repayment
High competition
Faces competition in the credit card market from other credit card issuers and payment solutions providers
IPO FAQs
This IPO consists of an offer for sale of up to Rs 9,854.8 crore, of 130,526,798 shares. It also consists of a fresh issue of Rs 500.0 crore.
The promoter of the company is State Bank of India.
The category allocation of qualified institutional buyers is 50.0%, the category allocation of non individual investors or high networth individuals is 15.0% and for retail investors it is 35.0%.
The price band of the IPO is Rs 750.0 - 755.0.
The IPO application opens on Mar 02, 2020 and closes on Mar 05, 2020.
The minimum lot size for the IPO is 19. The maximum lot size for the IPO is 247.
For all category investors, the minimum application amount for this IPO is Rs. 14,345.0, the maximum value for this IPO is Rs 186,485.0.
This IPO will be allotted on Mar 11, 2020.
The refund will be credited to your account on Mar 12, 2020.
The allotted shares will be credited to your demat on Mar 13, 2020.
SBI Cards and Payment Services Ltd.’s shares listed on the stock exchanges on Mar 16, 2020.