SBI Cards & Payment Services’ initial public offering (IPO) of around Rs 10,355 crore – one of the biggest in recent times -- opens for subscription on March 2. The issue mainly consists of an offer for sale from two existing shareholders (SBI Bank and Carlyle group) along with a fresh capital raise of Rs 500 crore by the company. The offering of the second largest card issuer in the country comes at a time when sentiment in equity market is battered...
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