Moneycontrol
Last Updated : Mar 16, 2020 09:53 AM IST | Source: Moneycontrol.com

SBI share price falls nearly 8% ahead of SBI Card listing

SBI Cards and Payment Services is going to debut on bourses on March 16.

 
 
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State Bank of India (SBI) share price fell nearly 8 percent in early trade on March 16 as the listing of its subsidiary SBI Cards and Payment Services may take a hit due to the dampened market sentiment surrounding the spread of the novel coronavirus or COVID-19.

SBI Cards and Payment Services is going to debut on bourses on March 16.

Its grey market premium, too, has fallen quite sharply to around Rs 50 from Rs 350-380 levels seen before the issued opened on March 2.

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In fact, the counter is trading at a discount to its grey market premium as buyers stayed away given the global market turmoil surrounding the spread of the coronavirus.

At 09:42 hrs, State Bank of India was quoting at Rs 224.90, down Rs 17.35, or 7.16 percent on the BSE.
First Published on Mar 16, 2020 09:53 am
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