Objects of the SBI Card IPO: a) The Offer for Sale: The object of the Offer for Sale is to allow the Selling Shareholders to sell an aggregate value up to Rs.8000 Crores of shares held by them. b) Fresh Issue( 500 Crores ) The net proceeds of the Fresh Issue are proposed to be utilized for augmenting the capital base to meet the future capital requirements. Overview of SBI Card (a) They are the second-largest credit card issuer in India, with an 18.0% market share of the Indian credit card market in terms of the number of credit cards outstanding as of September 30, 2019. SBI Card is a subsidiary of State Bank of India. (b) They 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. (c) SBI Card has ...
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