The SBI Card IPO
| Case Code: FINC180 Case Length: 13 Pages Period: 2020-2021 Pub Date: 2021 Teaching Note: Available |
Price: Rs.300 Organization: SBI Cards and Payment Services Limited Industry: Credit Card Countries: India Themes: IPO , Going Public |
Abstract Case Intro 1 Case Intro 2 Excerpts
Introduction
On March 16, 2020, SBI Cards and Payment Services Limited (SBI Card), the second-largest credit card issuer in India and a subsidiary of State Bank of India (SBI), was listed on the stock exchange and became the first-ever Indian credit card company to be listed. At the National Stock Exchange (NSE), SBI Card debuted at Rs. 661 per share and traded in the range of Rs. 656-755. By the end of the day, it closed (adjusted) at Rs. 680.14. This was 9.92% down against the Initial Public Offer (IPO) price of Rs. 755 per share. Experts stated that this had happened mainly due to a sudden jump in COVID-19 cases around the world. Share market participants around the globe adopted risk-off sentiments as the number of countries affected by COVID-19 was increasing..
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