SBI Cards IPO received 17 times subscriptions on Day 4

To begin with, the mega IPO by SBI Cards and Payments Services had received a 16.72 times subscription on the last day. Besides, the issue remained closed for qualified institutional buyers (QIBs) on Wednesday. So then, only retail and high-network individuals (HNIs) have participated in today’s window. 

However, till noon, the issue had earned bids for 1,67,66,44,322 shares compared with the issue size of 10,02,79,411 shares. Besides, the price band for the IPO remained fixed at Rs 750-755. And the minimum amount a small investor can invest by subscribing to a lot of 19 shares stood at Rs 14,345. 

The SBI Cards IPO had requested the market regulator to grant one more day. So then, the exchanges can accept all applications up to 5 pm on the fourth day. Also, this helps the exchange personnel in not working late on the closing day. 

Besides, under normal circumstances, an IPO remains open for a minimum period of three. And a maximum of 10 working days under certain circumstances. 

Also Read: Investors Ought To Wait For Antony Waste Holdings IPO

Despite this, the Coal India issue ran for four days. However, the biggest issue remained sold from October 18th to 20th, 2010, for QIBs. And from October 18th to 21st for retail and HNI investors. 

Furthermore, Geojit Financial Services, Angel Broking, and Nirmal Bang Securities have subscribed ratings on the SBI Card issue. Also, the list includes Hem Securities.