SBI Cards IPO | Investors who subscribed to the initial public offering (IPO) of SBI Cards and Payment Services Ltd, which closed for subscription on 5 March 2020, will soon be able to check the status of share allotment as various media reports suggested that the registrar of the IPO is likely to finalise the share allocation on Wednesday itself.
Investors can visit the website of registrar Link Intime India to check the share allotment status. They will need to keep some details handy, like Permanent Account Number (PAN), or Application Number, or DP/Client ID. Then they will be asked to enter the Captcha code, after which they can click on the ‘Submit’ button and see the allotment status.
For any further investor query, individuals can send a mail at the registrar’s official email ID: [email protected], or call at 022-49186200.
The SBI Card IPO was oversubscribed by a huge 26.54 times. The reserved portion of qualified institutional buyers was oversubscribed 57.18 times and that of non-institutional investors 45.23 times. Retail portion saw a 2.5 times subscription, employee portion 4.74 times, while the portion reserved for SBI shareholders was subscribed by 25.36 times.
SBI Card shares are expected to list on both BSE and NSE on 16 March. A bumper listing was expected for the stock but the recent selloff in equity markets have toned down expectations. According to reports, the coronavirus outbreak might cut listing gains for the SBI Card stock as the grey market premium has fallen considerably to Rs 100-120 levels now from Rs 350-380 per share before the IPO opened.
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