Shares of State Bank of India will remain in focus, as the IPO of its arm SBI Cards and Payment Services will open for subscription on Monday, March 2 and close on March 5. According to the RHP, the offer will comprise a fresh issue of shares aggregating to ₹500 crore and an OFS by the promoter SBI of 3.72 crore shares and by investor CA Rover Holdings of 9.32 crore shares.
The reserved portion for SBI shareholders is up to 1.3 crore shares and that for SBI Cards’ employees 18.64 lakh equity shares.