Carlyle-backed SBI Card seeks bookrunners for IPO

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By Jonathan Breen
20 Aug 2019

SBI Cards and Payment Services, the credit card subsidiary of State Bank of India, has invited investment banks and lawyers to submit proposals to work on its IPO.

The company, which is 76% owned by India’s largest lender SBI and 24% by US private equity firm Carlyle, is looking to raise up to Rp10bn ($139.7m) in primary capital from the listing, according to the request for proposal document on its website.

The deal will also include ...

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