SBI Cards Lists At Rs. 683 Per Share; 9.5% Discount To Issue Price Of Rs. 755

SBI Cards and Payments makes a very weak listing at a discount of 9.5% at Rs. 683 per share versus the IPO issue price of Rs. 755.Post the listing though there was seen some recovery in the stock and at around 10:24 am, the stock trades at Rs. 738 per shaare.

SBI Cards Lists At Rs. 683 Per Share; 9.5% Discount To Issue Price Of Rs. 755

Given the huge rout that Indian markets witnessed on global cues and the pandemic, traders in the grey market hinted at a possible listing of the SBI Cards counter at a discount to the issue price of Rs. 755 per share.

Nonetheless, even before the issue was open, grey market suggested listing of the SBI Cards stock at a premium of Rs 350-380 per share as against its issue price of Rs. 755.

The subscription to the issue also got impacted and was just subscribed 26.54 times way below analysts' estimates. The issue of SBI Cards ran between March 2 and March 5.

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