Moneycontrol
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Tune in on 17th July for the Small Business Virtual Summit with Cisco. Register now!
Last Updated : Feb 27, 2020 04:53 PM IST | Source: Moneycontrol.com

Subscribe to SBI Cards: Hem Securities

Hem Securities has come out with its report on SBI Cards. The research firm has recommended to "Subscribe'' the IPO in its research report as on February 27, 2020

 
 
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Hem Securities IPO report on SBI Cards


Company is the second-largest credit card issuer in India, with a 17.6% and 18.1% market share of the Indian credit card market in terms of the number of credit cards outstanding as of March 31, 2019 and November 30, 2019, respectively, and a 17.1% and 17.9% market share of the Indian credit card market in terms of total credit card spends in fiscal 2019 and in the eight months ended November 30, 2019, respectively, according to the RBI. Company offer an extensive credit card portfolio to individual cardholders and corporate clients which includes lifestyle, rewards, travel and fuel, shopping, banking partnership cards and corporate cards covering all major cardholder segments in terms of income profiles and lifestyles.


Valuation and Outlook


Company is bringing the issue at p/e multiple of approx. 46 at higher end of price band of Rs 750-755/share. Company being the second largest credit card issuer in India with deep industry expertise and a demonstrated track record of growth and profitability is supported by a strong brand and pre-eminent promoter. Company’s business model is looking very strong with high growth potential going forward. Looking after all above, we recommend to “Subscribe” the issue both for listing gain as well as long term investment purpose.


For all IPO stories, click here


Disclaimer: The views and investment tips expressed by investment experts/broking houses/rating agencies on moneycontrol.com are their own, and not that of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.

First Published on Feb 27, 2020 04:53 pm
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