SBI Cards IPO witness oversubscription 26 times on last day of bidding, HNI subscription at 44 times

11:40:00 AM, Friday 6th of March 2020 | in business

SBI Cards and Payment Services’ initial public offering (IPO) received an overwhelming response throughout the four day bidding process. The IPO saw an oversubscription of 26 times at the end of the bidding process. The Rs 7,581 crore IPO was oversubscribed 57 times by Qualified Institutional Buyers (QIB), putting in bids worth Rs 1.04 lakh crore alone. Non-institutional Investors (NII) potion was oversubscribed 45 times.