State Bank of India (SBI) has announced in relation to the proposed initial public offering of equity shares of one of its subsidiary, SBI Cards and Payment Services Limited ("SBI Cards", and such initial public offer, the "Offer")
State Bank of India ("State Bank") has been informed by SBI Cards that the IPO Committee of SBI Cards in consultation with the Book Running Lead Managers have finalised the price band to range between Rs. 750/- to Rs. 755/- per Equity Share. An employee discount of Rs. 75/- per Equity Share will be offered to Eligible Employees in accordance with the terms and conditions stipulated in the Red Herring Prospectus dated February 18, 2020 ("RHP"). Additionally, the Bid Lot for the Offer has been finalized to be 19 Equity Shares and in multiples of 19 Equity Shares thereafter.
Shares of STATE BANK OF INDIA was last trading in BSE at Rs.322.9 as compared to the previous close of Rs. 327.65. The total number of shares traded during the day was 1582310 in over 18064 trades.
The stock hit an intraday high of Rs. 331.2 and intraday low of 321.95. The net turnover during the day was Rs. 516897905.