{"id":547,"date":"2019-09-02T22:50:53","date_gmt":"2019-09-02T22:50:53","guid":{"rendered":"https:\/\/jobbinghood.com\/finance\/2019\/09\/02\/sbi-group-co-ipo-process-begins-to-decide-soon-when-to-hit-the-market\/"},"modified":"2019-09-02T22:50:53","modified_gmt":"2019-09-02T22:50:53","slug":"sbi-group-co-ipo-process-begins-to-decide-soon-when-to-hit-the-market","status":"publish","type":"post","link":"https:\/\/jobbinghood.com\/magazine\/2019\/09\/02\/sbi-group-co-ipo-process-begins-to-decide-soon-when-to-hit-the-market\/","title":{"rendered":"SBI group co IPO process begins; to decide soon when to hit the market"},"content":{"rendered":"<p> [ad_1]<br \/>\n<\/p>\n<div>\n<div class=\"article-image\">\n<figure><img fetchpriority=\"high\" decoding=\"async\" class=\"lazy lazy-hidden size-full wp-image-1694031\" src=\"http:\/\/www.financialexpress.com\/wp-content\/plugins\/a3-lazy-load\/assets\/images\/lazy_placeholder.gif\" data-lazy-type=\"image\" data-src=\"https:\/\/images.financialexpress.com\/2019\/09\/1-67.jpg\" alt=\"\" width=\"660\" height=\"440\" srcset=\"\" data-srcset=\"https:\/\/images.financialexpress.com\/2019\/09\/1-67.jpg 660w, https:\/\/images.financialexpress.com\/2019\/09\/1-67-300x200.jpg 300w, https:\/\/images.financialexpress.com\/2019\/09\/1-67-620x413.jpg 620w, https:\/\/images.financialexpress.com\/2019\/09\/1-67-401x267.jpg 401w\" sizes=\"(max-width: 660px) 100vw, 660px\"\/><noscript><img decoding=\"async\" class=\"size-full wp-image-1694031\" src=\"https:\/\/images.financialexpress.com\/2019\/09\/1-67.jpg\" alt=\"\" width=\"660\" height=\"440\" srcset=\"https:\/\/images.financialexpress.com\/2019\/09\/1-67.jpg 660w, https:\/\/images.financialexpress.com\/2019\/09\/1-67-300x200.jpg 300w, https:\/\/images.financialexpress.com\/2019\/09\/1-67-620x413.jpg 620w, https:\/\/images.financialexpress.com\/2019\/09\/1-67-401x267.jpg 401w\" sizes=\"(max-width: 660px) 100vw, 660px\"\/><\/noscript><span class=\"article-caption\">India\u2019s largest bank State Bank of India (SBI) holds 74 per cent stake in the SBI Card and the rest is held by Carlyle Group<\/span><\/figure>\n<\/div>\n<p>SBI Card has initiated the process for an initial share sale and the decision on when to come out with the offer will be taken at an appropriate time, a senior company official said on Monday. As per the request for proposal for book running lead managers (BRLMs) floated by the SBI Card, the company intends to tap capital markets via IPO through \u2018offer for sale\u2019 by dilution of up to 14 per cent of the issued and paid up capital (up to 13.05 crore) equity shares and primary issuance of up to Rs 1,000 crore.<\/p>\n<p>India\u2019s largest bank State Bank of India (SBI) holds 74 per cent stake in the SBI Card and the rest is held by Carlyle Group. \u201cAs we go forward, we will actually take a call (on IPO) and that call is to be taken by the promoters\u2026at some point of time this decision will be taken,\u201d SBI Card Managing Director and Chief Executive Officer Hardayal Prasad said.<\/p>\n<p>Currently, the market is volatile and the timing of hitting the market would depend on how it is panning out, he added. The company floated expression of interest for selection of BRLMs, Domestic Legal Council (DLC) and International Legal Council (ILC) for the proposed share offering last month. Talking about the strengthes of the company, Prasad said SBI Card has made massive investment in digitisation and technology.<\/p>\n<p>According to him, the credit business has huge potential to grow in view of very low penetration in the country. He said there were only three credit cards for a population of 100, while it was 165 in Singapore and 250 cards in Hong Kong. So, there is a lot of scope for growth of credit cards in the country, he added.<\/p>\n<p>As per the <a target=\"_blank\" href=\"http:\/\/www.financialexpress.com\/tag\/rbi\/\" rel=\"noopener noreferrer\">RBI<\/a>, SBI Card ranked second with the credit card base and credit card spends capturing 17.6 per cent and 17.1 per cent market share in the respective categories. The company posted year-on-year growth of 32.17 per cent with the credit card base of over 8.27 million as on March 31, 2019 as compared to 6.26 million as on March 31, 2018. It posted an annual credit card spends (excluding cross sell) of Rs 103,170 crore as on March, 2019, up 34.9 per cent over March 2018.<\/p>\n<div class=\"common-bottom-text\">\n<p>Get live <a href=\"https:\/\/www.financialexpress.com\/market\/stock-market\/\" target=\"_blank\" rel=\"noopener noreferrer\">Stock Prices<\/a> from BSE and NSE and latest NAV, portfolio of <a href=\"https:\/\/www.financialexpress.com\/mutual-funds-india\/\" target=\"_blank\" rel=\"noopener noreferrer\">Mutual Funds<\/a>, calculate your tax by <a href=\"https:\/\/www.financialexpress.com\/income-tax-calculator\/\" target=\"_blank\" rel=\"noopener noreferrer\">Income Tax Calculator<\/a>, know market\u2019s <a href=\"https:\/\/www.financialexpress.com\/market\/stock-market\/nse-top-gainers\/\" target=\"_blank\" rel=\"noopener noreferrer\">Top Gainers<\/a>, <a href=\"http:\/\/www.financialexpress.com\/market\/stock-market\/nse-top-losers\/\" target=\"_blank\" rel=\"noopener noreferrer\">Top Losers<\/a> &amp; <a href=\"https:\/\/www.financialexpress.com\/mutual-funds-india\/equity-funds\/\" target=\"_blank\" rel=\"noopener noreferrer\">Best Equity Funds<\/a>. Like us on <a href=\" https:\/\/www.facebook.com\/thefinancialexpress\" target=\"_blank\" rel=\"noopener noreferrer\">Facebook<\/a> and follow us on <a href=\" https:\/\/twitter.com\/FinancialXpress\" target=\"_blank\" rel=\"noopener noreferrer\">Twitter<\/a>.<\/p>\n<\/div>\n<\/div>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><br \/>\n<br \/>[ad_2]<br \/><\/p>\n<div class=\"jobbi-after-content-jh-placement jobbi-entity-placement\" id=\"jobbi-2771125392\"><div id=\"jobbi-518265307\"><script async src=\"\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js?client=ca-pub-5862940809620110\" crossorigin=\"anonymous\"><\/script><ins class=\"adsbygoogle\" style=\"display:block;\" data-ad-client=\"ca-pub-5862940809620110\" \ndata-ad-slot=\"\" \ndata-ad-format=\"auto\"><\/ins>\n<script> \n(adsbygoogle = window.adsbygoogle || []).push({}); \n<\/script>\n<\/div><\/div>","protected":false},"excerpt":{"rendered":"<p>[ad_1] India\u2019s largest bank State Bank of India (SBI) holds 74 per cent stake in the SBI Card and the rest is held by Carlyle Group SBI Card has initiated the process for an initial share sale and the decision on when to come out with the offer will be taken at an appropriate time, [&hellip;]<\/p>\n","protected":false},"author":348,"featured_media":548,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[3],"tags":[],"class_list":["post-547","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-markets"],"_links":{"self":[{"href":"https:\/\/jobbinghood.com\/magazine\/wp-json\/wp\/v2\/posts\/547","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/jobbinghood.com\/magazine\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/jobbinghood.com\/magazine\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/jobbinghood.com\/magazine\/wp-json\/wp\/v2\/users\/348"}],"replies":[{"embeddable":true,"href":"https:\/\/jobbinghood.com\/magazine\/wp-json\/wp\/v2\/comments?post=547"}],"version-history":[{"count":0,"href":"https:\/\/jobbinghood.com\/magazine\/wp-json\/wp\/v2\/posts\/547\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/jobbinghood.com\/magazine\/wp-json\/wp\/v2\/media\/548"}],"wp:attachment":[{"href":"https:\/\/jobbinghood.com\/magazine\/wp-json\/wp\/v2\/media?parent=547"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/jobbinghood.com\/magazine\/wp-json\/wp\/v2\/categories?post=547"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/jobbinghood.com\/magazine\/wp-json\/wp\/v2\/tags?post=547"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}