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SBI Cards IPO: Here’s how to check if you’ve been allotted shares

The IPO of SBI Cards saw a whopping 26.54 times subscription over the 10,02,79,411 offered shares during the offer period. Here's how you can check if you have been allotted shares.

By: Express Web Desk | New Delhi | Published: March 11, 2020 7:47:20 pm
SBI Q4 Profit, SBI report coronavirus, SBI news Indian express business news SBI owns 76 per cent stake in SBI Cards, while the remaining stake is held by Carlyle Group. (File photo)

The blockbuster IPO of the credit card-arm of State Bank of India (SBI) had witnessed a whopping 26.54 times subscription over the 10,02,79,411 shares offered during the offer period, from March 2-5, 2020. The price range for the SBI Cards IPO was fixed at Rs 750-755 per share.

Now it is time for investors to check if they have received the shares. So, if you have invested in the IPO, here is how you can check the status of your allotment:

– Before proceeding, investors must note that since this IPO was oversubscribed over 26 times, not all investors who had bid will receive shares. The allotment will be done with the help of a lottery system.

– The allotment status will be updated on the website of the registrar of the IPO, which in this case is Link Intime India. Applicants can select SBI Cards and Payment Services in the drop-down menu and enter their PAN, application number or Client ID. Following this, they will be required to enter the given captcha code and click on submit to view their allotment status.

– Apart from the registrar’s website, applicants can also check the status of their allotment on the website of the BSE. Here, they will need to select Equity in Issue Type, then select SBI Cards and Payments Services from the drop-down list in the Issue Name section, enter their Application Number and PAN Number in the respective boxes and then click on search to view their status.

Read | SBI waives minimum balance requirement in savings accounts, cuts interest rate to 3%

The listing is expected to take place on March 16 on the National Stock Exchange (NSE) and the BSE. The issue size of SBI Cards IPO was Rs 10,350 crore, which saw Rs 2,700 crore come in from the anchor investors before the IPO bidding began.

The SBI Cards IPO is one of the most awaited of this year. In terms of stake, SBI which is India’s largest public sector bank owns 76 per cent stake in SBI Cards, while the remaining stake is held by Carlyle Group.

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