SBI Card IPO’s demand is huge, In the unofficial grey market, SBI Cards shares are being traded at about Rs 1,080 apiece, which is a premium of Rs 330 per share, or 44% above their likely IPO price. At the grey market price, SBI Cards are valued at almost Rs 1 lakh crore. Parent SBI’s market value is about Rs 2.92 lakh crore.
To ensure smooth conduct of the application process and accommodate retail investors from remote locations, SBI Card officials requested the market regulator to give one more day so that exchanges can accept all applications up to 5 pm on the fourth day.
Five things you must know if you are a retail investor.
- 35% of the issue reserved for retail investors (around Rs 3,200 crore.)
- If the retail quota is fully subscribed, based on the lot size of 19 equity shares, 22.5 lakh forms would be needed for a one-time subscription.
- Considering the initial feedback on-demand and investor interest, SBI Card is expecting a huge number of applications as was witnessed in all the successful mega IPOs in the past.
- In the SBI Card IPO, about 1.31 crore shares have been reserved for investors, who were State Bank of India shareholders as on February 20. They can apply in both retail and shareholders categories if the application amount falls within the limit of Rs 2 lakh.
- the grey market is telling the real story then SBI Card IPO which is expected to open on March 02, will be the next one of the multi-bagger stocks of the Indian stock market. (SBI Card IPO and how to apply it).
Source: ET, Blog | equityboxx