SBI Cards is the second-largest credit card issuer in India, with an 18.1 per cent market share of the market as of November 2019

Market sources said the IPO size will be worth Rs 700 crore

The second largest card issuer SBI Cards & Payment Services, which is hitting the primary market with a Rs 9,000-crore initial public offering, has set the price band for the share sale at Rs 750-755. The IPO, opening on March 2 and closing on 4, comprises fresh issue of equity shares aggregating to Rs 500 crore and an offer for sale where promoters will offload nearly 13 crore shares. Promoters SBI and Carlyle Group will offload 3.73 crore shares and 9.32 shares respectively. SBI holds 74 per cent in SBI Card and the rest by the Carlyle Group and they will pare their stakes by 4 per cent and 10 per cent respectively, SBI Managing Director Dinesh Khara told reporters kicking of the IPO roadshow. SBI Card's market share in terms of the number of credit cards outstanding is 18 per cent. The pure-play credit card company's gross NPA stood at 2.47 per cent in December 2019 compared to 2.44 per cent in March 2019 and 2.83 per cent in March 2018, he said. SBI Card managing director and

At issue size of Rs 10,355 cr, the offering will be Asia's biggest this year and fourth-largest domestically

Normally, IPOs are open for subscription for three days but SBI Cards IPO will run for four days. The first three days, i.e. from March 2 to March 4, the issue will be open for all bidders

No multi-bagger like IRCTC, but can deliver 50% listing gains, says Ambareesh Baliga, an independent market expert

Siddharth Purohit of SMC Global Securities believes that given the stable RoE of 30% valuation, in terms of P/E ratio is likely to come down to 31x and 22x in FY21 and FY22, respectively from 43x.

The price band for the IPO is Rs 295 to Rs 300 per share. At the IPO price, the firm is valued at Rs 800 crore

The SBI Cards IPO will be a test for investor appetite, which has been battered by the coronavirus outbreak.

The IPO comprises a fresh issue of Rs 500 crore and an offer for sale of 13,05,26,798 equity shares

JM Financial, Edelweiss Financial Services and IIFL Securities are managing the offer

The company will offer fresh shares worth Rs 35 crore and will offer 57 lakh equity shares under Offer For Sale (OFS) category for reduction of the aggregate consolidated outstanding borrowings.

At the top-end, the stock is valued at 46x its earnings for the first nine months of 2019-20.

Antony Waste IPO comprises of Rs 35 crore of fresh fund raising and Rs 171 crore of secondary share sale

The SBI Cards IPO is one of the largest share sale in recent times, both in terms of size and oversubscription

SEBI issued the final observations to the lenders proposal on March 20, 2020.

For a third year in a row, exits accounted for over 80% of total proceeds

Several south Kolkata neighbourhoods, which had managed to stave off coronavirus for the past 40 days, are now on the city’s containment-zone map with fresh cases being reported from them. The affected portions include added areas — both sides of the Tolly canal, EM Bypass and Behala — and some upscale south Kolkata locations, like Lord Sinha Road and Hindustan Park.

A complaint of harassment and cyber bullying was lodged against a group of residents of a Sector-V housing complex — by a couple from the same complex — for not allowing domestic helps enter the premises.

Trucks laden with goods rolled into Posta on Friday even as the government hunted for a suitable place to relocate part of the wholesale market’s operations in a bid to decongest Burrabazar and prevent the area from turning into a Covid-19 super-spreader.

The lockdown, meant to tackle the novel coronavirus, has resulted in a 20% dip in deaths in Kolkata, if one doesn’t factor in Covid-19 deaths.

Flights from Kolkata are unlikely to take off right after the lockdown on flights is lifted. Sources in the civil aviation industry indicated that flights post lockdown would initially operate between smaller airports to ensure regional connectivity between tier-III towns, which are in the green zone. It is only thereafter that airports in tier-II cities in the orange zone and finally, those in metro cities, including Kolkata, that are in the red zone, will start operations.

Amid prevalent chaos and uncertainty over access to the essential services and commodities during the lockdown, we bring you the latest updates from your city.

The poisonous mushrooms that killed six people at a remote village in Meghalaya's West Jaintia Hills district have been identified as Amanita phalloides, commonly known as the 'Death Cap', a senior official said on Saturday.

Several schools in the city have suspended or offered concessions in school bus, laboratory charges, library fees, optional computer training and other student-based activities that are payable.

Private hospitals in Kolkata will now be allowed to test their outpatients for Covid-19, a move that will help free up beds at isolation units, a major portion of which is now being occupied by suspects. According to a health department decision, that will soon be officially communicated to hospitals, doctors can now recommend a test to a suspect who seeks outpatient consultation. The latter can stay at home till the test result is out and will have the option to either seek admission at a designated Covid hospital or stay in home isolation abiding by the ICMR guidelines if he or she tests positive.

Eleven more Covid-19 fatalities have been recorded in West Bengal, raising the death toll in the state to 99, Home Secretary Alapan Bandyopadhyay said on Saturday.

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