The SBI Cards and Payments Services IPO will soon start allotment of shares to applicants. According to the prospect filed by the company, the successful applicants will receive their shares in the demat accounts by March 13.
The refund process will start soon
The company will start allotting shares on 13 March and at the same time, it will initiate the refund process for the investors that won’t get shares. The refund process will start on 12 March.
The IPO was hugely popular
SBI invited bids for its IPO between March 2 and 5 and it received a huge response from the investors. Its share was subscribed 26.54 times. State Bank of India (SBI) is the largest lender of the country and its credit arm aims to raise around Rs. 10,350 crore through the IPO.
The investors are closely watching the IPO that is expected to get listed on March 16. The bidders can visit the portal link Intime India to check the subscription status. They will need using their Permanent Account Numbers (PAN) or application number of client ID to check the status of their subscription.