Planning to apply for SBI Cards IPO? Check out the eligibility criteria

Normally, IPOs are open for subscription for three days but SBI Cards IPO will run for four days. The first three days, i.e. from March 2 to March 4, the issue will be open for all bidders

The initial public offer (IPO) of SBI Cards & Payments Services, India's second largest credit card issuer, will open on March 2. The price band of the offer has been set at Rs 750-755 per equity share. The offer comprises a fresh issue worth Rs 500 crore and an offer for sale (OFS) of up to 130,526,798 equity shares. The bid lot for the offer has been finalised to be 19 equity shares and in multiples of 19 equity shares thereafter.

Here're the details and offer break-up you need to know:

1) Existing shareholders of SBI: Of the entire issue, up