SBI Cards and Payment Services, the country’s second-largest credit card issuer on March 6 fixed the final issue price for its initial public offering at Rs 755 per share. The issue closed on March 5. The company raised Rs 10,340 crore through the issue which was open for subscription between March 2-March 5, 2020. The IPO has received strong response from investors, getting bids of more than 266 crore equity shares against offer size of over 10 crore shares (excluding anchor book). This means SBI Card got bids worth more than Rs 2 lakh crore. The issue was oversubscribed 26.54 times as the portion set aside for qualified institutional buyers saw subscription of 57.18 times and that of non-institutional investors 45.23 times and retail 2.5 times.

(Moneycontrol)