The $1.25 billion initial public offering (IPO) of SBI Cards and Payment Services, the credit card arm of State Bank of India (SBI), will open on March 2, according to its prospectus.
The company plans to issue new shares worth ₹500 crore and will offer up to ₹1,305 lakh shares for sale, the prospectus showed.
The bidding process will close on March 5.