SBI Cards & Payment Services Ltd
Complete IPO details, including price band, financials, subscription status, and key insights.
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Financial Performance
Revenue, profit after tax and total assets across the last 3 reported financial years.
Revenue
Amount in ₹ crore
Profit After Tax (PAT)
Amount in ₹ crore
Total Assets
Amount in ₹ crore
Figures in ₹ crore, on a standalone basis, as reported for FY24 to FY26.
Objects of the Issue
How the company plans to utilize IPO proceeds.
Use of Proceeds
The funds raised through this IPO will be used for:
Initial Public Offering of 137,149,314* equity shares of face value of Rs. 10 each ("equity shares") of SBI Cards and Payment Services Limited (the "company" or the "company" or the "issuer") for cash at a price of Rs. 755** per equity share (including a share premium of Rs. 745 per equity share) (the "offer price") aggregating to Rs. 10340.79* Crores, comprising a fresh issue of 6,622,516* equity shares by the company aggregating to Rs. 499.33 Crores ("fresh issue") and an offer for sale of 130,526,798* equity shares (the "offered shares") aggregating to Rs. 9841.46* Crores, including 37,293,371* equity shares aggregating to Rs. 2811.85* Crores by State Bank of India ("sbi") ("promoter selling shareholder") and 93,233,427* equity shares aggregating to Rs. 7029.61* Crores by ca rover holdings ("ca rover") (ôinvestor selling shareholderö and together with the promoter selling shareholder, the "selling shareholders" and such offer, the "offer for sale" and together with the fresh issue, the "offer"). The offer included a reservation of 1,864,669** equity shares, for subscription by eligible employees (as defined hereinafter) (the "employee reservation portion") and a reservation of 13,052,680* equity shares, for subscription by SBI shareholders (as defined hereinafter) (the "sbi shareholders reservation portion"). The offer less the employee reservation portion and the sbi shareholders reservation portion is hereinafter referred to as the "net offer", aggregating to 122,231,965* equity shares. The Offer and the net offer constitutes 14.61*% and 13.02*% of the post-offer paid up equity share capital of the company, respectively. *Subject to finalisation of basis of allotment **The company and the selling shareholders in consultation with the brlms, have offered a discount of Rs. 75 per equity share to eligible employees bidding in the employee reservation portion. The face value of the equity shares is Rs. 10 each and the offer price is 755 and is 75.5 times the face value of the equity shares.
*Subject to approvals and market conditions.
Strengths & Risks
Key competitive advantages and factors to consider before investing.
- Company use the "SBI" brand of its Promoter, and are exposed to the risk that the "SBI" brand may be affected by events beyond our control and that our Promoter may prevent us from using it in the future.
- Company derive substantial benefits from its existing relationship with its Promoter, and a loss or reduction in the level of support we receive from its Promoter could adversely affect us.
- Substantially all of its credit card portfolio is unsupported by any collateral that could help ensure repayment, and in the event of non-payment by a cardholder of their credit card receivables, we may be unable to collect the unpaid balance.
- Company face competition in the credit card market from other credit card issuers and payment solutions providers, and its may not be able to compete effectively, which could result in fewer cardholders and lower account balances and could materially adversely affect its financial condition, cash flows and results of operations.
- Fraudulent activity associated with its products or its networks could cause its brand to suffer reputational damage, the use of its products to decrease and its fraud losses to be materially adversely affected.