The SBI Cards share has faced a dip on Monday as the market opened. Initially, the share was offered at Rs 755, but as of now, the listing is facing a crash of 13% and the share is available at Rs 658 on the BSE.
On NSE, the share recorded at Rs 661, down 12.45 percent against its original cost. On the other hand, the market specialists were predicting that the stock should list at around Rs 780-800 against the IPO issue cost of Rs 755. The issue, which ran from March 2 to March 5, was bought in more than multiple times.
The standard held for qualified institutional purchasers (QIB) was bought in 57.18 times while non-institutional speculators’ class was bought in 45.23 times. Earlier, the market was predicting a 30-35 percent hike in the original price because of the ongoing surge hype but the share was not able to match the expectation as of now.
The posting would be a major blow for the HNI financial experts. The experts have stated that a large amount of money has been refunded to the people who have not received the shares in the initial public offering.
