SBI Cards is India’s 2nd largest credit card issuer after HDFC Bank.
The company holds 18.1% market share in the India’s credit cards market.
The company is backed by a strong promoter group i.e. State Bank of India (SBI).
Extensive product portfolio, which includes premium, classic, travel and shopping, exclusive and corporate cards, to cater to both individual and corporate needs.
Partnerships with leading companies like Apollo Hospitals, BPCL, Etihad Guest, FBB, IRCTC, OLA Money, Yatra, etc.
For the period 2017-2019, the revenue has increased at a CAGR of 44.6% and net profit grew at CAGR of 52.1%
The only Company in India to offer 14 different modes of payment to its credit card holders.
One of the first companies to have migrated to Europay, MasterCard and Visa (EMV) platform.
IPO Details
Details
Value
IPO Issue Dates
02-Mar-20 to 05-Mar-20
Price Band
₹750 – ₹755
Lot Size
19 shares
Min Order Quantity
1 lot (19 shares)
Min Order Value
₹14,345
Max Order Qty (Retail)
13 lots
Max Order Value
₹1,86,485
Allotment Finalization Date
11-Mar-20
Refunds Issuance Date
12-Mar-20
Shares Credit Date (Demat)
13-Mar-20
Stock Listing Date
16-Mar-20
Issue Format
Type
Details
Offer For Sale (OFS)
13.05 Cr shares up for sale (3.7 Cr by SBI + 9.7 Cr by Carlyle)
Fresh Issue
Equity shares of ₹10 aggregating up to ₹500 Cr
Company Financials
Particulars (₹Cr.)
30-Sep-19
31-Mar-19
31-Mar-18
31-Mar-17
Total Assets
24,459
20,239
15,686
10,764
Total Revenue
4,677
7,286
5,370
3,471
Profit After Tax
725
862
601
372
Issue Distribution
Investor Type
Details
Qualified Institutional Buyers (QIB)
Not More than 50%
Non Institutional Investors (NII)
Not less than 15%
Retail Investors
Not less than 35%
Category-wise Distribution
Application Category
Maximum Limit
Existing shareholders of SBI
₹ 2,00,000
Retail Institutional Investors (RII)
₹ 2,00,000
SBI Employees
₹ 5,00,000
Top 10 Credit Card Companies in India (Jan’20)
Company (Bank)
Cards Issued (Lakh)
Market Share
Avg. no. of Transactions (per card / month)
Avg. Spend (per card / month)
Avg. Transaction Value (per swipe)
HDFC Bank
137
25.2 %
3.8
₹ 13,182
₹ 3,440
State Bank of India
98
18.1 %
3.4
₹ 10,886
₹ 3,187
ICICI Bank
83
15.3 %
3.2
₹ 8,419
₹ 2,613
Axis Bank
68
12.5 %
2.2
₹ 9,212
₹ 4,104
Citi Bank
28
5.1 %
6.2
₹ 14,643
₹ 2,373
RBL Bank
24
4.4 %
3.3
₹ 10,500
₹ 3,149
Kotak Mahindra Bank
22
4.0 %
2.6
₹ 7,315
₹ 2,832
American Express
16
3.0 %
3.8
₹ 24,284
₹ 6,365
Standard Chartered Bank
13
2.4 %
3.4
₹ 8,187
₹ 2,428
IndusInd Bank
13
2.3 %
2.8
₹ 19,436
₹ 6,994
Financial Ratios (Est.)
EPS FY 2019-20 (9M): ₹12.50
EPS Full year: ₹16.70
Book Value (Dec’19): ~₹51
P/BV: 14.6x
P/E ration: 45x
Awards & Recognition
‘Champion Security Award’ for the South Asia region at Visa Security Summit 2019.
SKOCH Award (Gold) in Payment Category at 58th SKOCH Summit.
‘Most Trusted Brand’ by Reader’s Digest Awards 2019, for the eleventh time.
Best Data Quality Award at 10th TransUnion CIBIL Credit Information conference.
‘Excellence in Customer Service’ award by Asia BPO Summit, 2012-13.
‘Excellence in Customer Service’ at the Asia Outsourcing Excellence Awards organized by CMO Asia, 2014.
‘Best Credit Card Program’ for SimplyCLICK SBI Card at the MasterCard Innovation Awards 2016.
‘Best Issuing Institution across India & South Asia’ 2012, for fraud management by Visa Inc.
‘Most Innovative Technology Legacy Transformation’ award for Card One Customer Relationship Management tool at International Gartner Awards 2016.
‘Best use of Social Media in Marketing’ at 4th CMO Asia Award.’Excellent Compliance Performer’ at Annual Compliance 10/10 awards, 2016.
‘Best Loyalty Program in Non- Banking Financial Sector’ at the Loyalty Summit, Customer FEST Show, 2016.
