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Well, investors are eagerly waiting for the shares allotment in SBI Card IPO that is likely to be finalised on Wednesday.

The steep fall in the market has, however, tampered expectations of the investors.

The investors can check the subscriptin status on the website of Link Intime India, the registrar to the IPO.

A SEBI-registered entity is qualified to become the registrar to an issue and its role is to electronically process application and also carry out the allotment procedure according to the prospectus. The stocks are expected to be listed early next week.

SBI Card is the second biggest player in the market.

Eliciting a robust response, the initial share sale of SBI Cards and Payment Services was subscribed 22.45 times on the final day of bidding on Thursday even as the broader market sentiment remained at a low ebb on coronavirus concerns.

The Initial Public Offer (IPO) of SBI Cards, part of the country's largest public sector lender SBI, is also one of the largest share sale in recent times, both in terms of size and oversubscription.

More than 225 crore bids were received for the offer worth Rs 10,355 crore. A total of 10 crore shares were up for bidding, as per NSE data till 6.30 pm. At the upper end of the Rs 750-755 apiece price band, the sale would fetch Rs 10,355 crore.

Non-institutional investors category was subscribed 45 times and retail individual investors 2.5 times, according to merchant banking sources.

(With inputs from Agencies)

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