The card unit of SBI plans to raise around Rs 96 billion through the IPO. SBI Cards has 18% market share next to HDFC Cards that holds 27% market share. The company had 9.4 million outstanding cards as of the end of September. According to the draft prospectus, the company expects the number of credit cards to increase at an annual rate of 25% per year.

The total number of public shareholders in SBI has increased to 18.54 lakh at the end of December 2019 from 14.95 lakh as on 30 September 2020, as per the latest shareholding pattern of SBI available on BSE.

Individual shareholders of SBI can apply under the retail (investment up to Rs 2 lakh) as well as shareholder category (investment up to Rs 2 lakh). If an SBI shareholder is also an SBI employee, he or she is also eligible to apply in the category of employees (investment up to Rs 5 lakh).