Outbreak weighs on India’s massive credit card IPO

SBI Cards is 74% owned by State Bank of India, the nation’s largest lender, and Carlyle Group has the remaining 26%. SBI is selling 4% stake, while Carlyle is paring 10% of its holding, according to the sale document.

SINGAPORE: As India’s first billion-dollar share sale in more than two years and the only credit card firm in the nation to go public, SBI Cards and Payment Services Ltd’s float may exceed the US$1.4bil target.

The question is by how much in the face of the coronavirus outbreak.

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