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SBI Card IPO oversubscribed 15.5 times on Day 3, QIB subscription at 57x

It is the last day for qualified institutional bidders, while the issue will remain opened till March 5 for all other investors.

March 04, 2020 / 07:12 PM IST

SBI Cards and Payment Services, the first initial public offering of 2020 has seen a 15.48 times subscription on March 4, the third day of bidding. SBI Card is the biggest public issue after GIC Re which was launched in October 2017.

The issue has so far received bids for over 155.35 crore equity shares against IPO size of more than 10 crore equity shares (excluding anchor book), the exchanges data showed.

March 4 is the last day for qualified institutional bidders whose reserved portion was subscribed 57.18 times. The issue will remain open till March 5 for all other investors.

The portion set aside for non-institutional investors (or high networth individuals) saw 2.18 times subscription, while that of retail bidders 1.76 times.