SBI Cards IPO subscribed 22.45 times

New Delhi: The initial public offer of SBI Cards and Payment Services was subscribed 22.45 times on the final day of bidding on Thursday.

The IPO to raise around Rs 10,355 crore received bids for over 225 crore shares against the total issue size of 10 crore shares, as per NSE data till 18:30 hours. Non institutional investors category was subscribed 45 times and retail individual investors 2.5 times, according to merchant banking sources.

For qualified institutional buyers (QIB), the issue closed on Wednesday and for all other bidders it closed on Thursday. The QIB category was subscribed 57.18 times, as per NSE data.

The initial public offer comprises a fresh issue of Rs 500 crore and an offer-for-sale of 13,05,26,798 shares including anchor portion of 3,66,69,589 shares.