The initial public offer of SBI Cards and Payment Services i.e. subscription for IPO has opened from 2 March ie today. Along with this, SBI Cards & Payment Services is the credit card unit of the country's largest bank State Bank of India. India is the number two company in the issue of cards. SBI Cards holds 18 per cent market share. In this case, HDFC comes first with 25 percent market share. Along with this, SBI Cards plans to raise Rs 10,350 crore through this IPO. It also includes 500 crore fresh equity shares. 13.05 crore shares are being offered for sale in IPO. This IPO of SBI Cards will close on March 5.

Let us tell you some special things about SBI Cards IPO-

1. Issue Price: SBI Cards & Payment Services has fixed a price band of Rs 750-755 per equity share for the IPO.

2. Face Value: The face value of one share in this offer will be Rs 10.

3. Market Lot: This IPO has a market lot of 19 shares. That is, a minimum of 19 shares have to be bid. Thus, according to the high price of the price band, a lot will cost investors Rs 14,345.

4. Size: 500 crore fresh equity shares will be issued in SBI Cards IPO and about 13.05 crore shares may be offered for sale. 5. Sale Offer: SBI Cards IPO will offer sale of up to 130,526,798 equity shares. It has 37,293,371 shares sold by SBI and 93,233,427 shares offered by Carlyle Group.

6. Reservation and Discount: In this IPO, 18.65 lakh shares are reserved for the employees of SBI Cards and 130.53 lakh shares for the shareholders of SBI tomorrow. Apart from this, the IPO holds 3,66,69,590 shares for anchor investors, 2,44,46,393 shares for QIBs, 1,83,34,795 shares for NIIs and 4,27,81,188 shares for RIIs. A discount of Rs 15 per share is also being given to the employees.

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