SBI Cards & Payment Services raise Rs 2,769 Cr ahead of its initial share sale

SBI Cards and Payment Services has raised Rs 2,769 Crore from 74 anchor investors, ahead of its initial share sale, starting on March 2. Anchor investors are institutional investors, who are offered shares in an initial public offering, ahead of its opening.

Singapore government, Monetary Authority of Singapore, HDFC Mutual Fund, Government Pension Fund Global and Birla Mutual Fund, are among the anchor investors.

Shares have been allotted at the offer’s upper price band of Rs 755 apiece, as per a regulatory filing.

There are 12 mutual funds among the 74 anchor investors, who have been allocated 3.66 crore shares and its value stood at 2,769 crore rupees.