India's SBI Cards opens $1.4bn IPO with strong anchor backing

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By Jonathan Breen
02 Mar 2020

SBI Cards and Payments Services has kicked off its up to Rp103.4bn ($1.4bn) IPO, with over one quarter of the deal subscribed by anchor investors.

The book was opened on Monday morning in Mumbai for a three-day bookbuild. By midday orders were trickling in, as is often the case for large Indian listings, with bids tending to pile up on the last day of bookbuilding.

The issuer is floating a mix of primary ...

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