SBI Card IPO: The Securities and Exchange Board of India (SEBI) on 11th February 2020 gave

its in-principle approval for the SBI Card IPO (initial public offering). SBI Card IPO tentative
date is most probably in the first week of March 2020. SBI Cards and Payment Services, a
subsidiary of the country's largest lender State Bank of India is expecting to raise Rs 600 crore
from the SBI Card IPO. Banking heavily upon the SBI — India's largest commercial bank and
promoter of SBI Card — the IPO is expected to outperform other IPOs' performances in the
recent past, says stock market experts.
Stock market investors who hold SBI shares on the cut-off date would be eligible to apply
under the shareholder's category of SBI Card IPO. As per SEBI norms, the maximum limit
defined for the 'retail individual shareholders to apply in shareholder category is Rs 2 lakhs.
SBI shareholders (bidding up to Rs 2 lakhs) can also apply under the retail category. Further,
if an SBI shareholder is also an SBI employee, he or she is also eligible to apply in all the three
categories — RII (up to Rs 2 lakhs), Shareholder (up to Rs 2 lakhs) and Employees (up to Rs 5
lakhs).