The SBI Cards IPO is getting tremendous response from small investors. With this, on the very first day, subscription has been received for 62 per cent of the retail portion of this IPO and 39 per cent of the shares in total. Along with this, 80% of the share of employees of SBI Cards and 69% of the shareholding of State Bank of India has been subscribed. At the same time, the most popular initial public issue of this year SBI Cards is open for IPO subscription on Monday i.e. March 2 and will close on March 5. With this, only 12% of the share of non-institutional investors has subscribed. At the same time, the company has offered to sell 4.27 crore shares to retail i.e. small investors through this IPO and from such investors the company is expecting to raise Rs 3,229 crore.

2,769 crores raised from anchor investor
Subscriptions have been received for a total of 2.73 crore shares for the IPO. Along with this, SBI Cards has raised Rs 2,769 crore from 74 anchor investors. These include the Government of Singapore, the Monetary Authority of Singapore, HDFC Mutual Fund, Government Pension Fund Global and Birla Mutual Fund, while anchor investors are allotted the upper price band of Rs 755 per share. There are 12 mutual funds among them.

Expect 40% premium
SBI Cards, the credit card arm of State Bank of India (SBI), expects to raise a total of Rs 10,355 crore through this IPO. All analysts and brokerages recommend investing in it. Its price band has been kept from 750 to 755 rupees, but experts say that it can be listed at 40 to 50 per cent premium i.e. about 1,000 per share of the upper band. With this, if someone is allotted its shares, then he can get 40 to 50 per cent benefit on the very first day. At the same time, the application for the IPO of SBI Card can be applied for one lot of 19 shares. If someone is an employee of SBI Cards then he will get a rebate of Rs 75 per share.

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