SBI Cards IPO Employees Quota - Eligibility for applying in employees quota - Indian IPO Blog

Tuesday, December 17, 2019

SBI Cards IPO Employees Quota - Eligibility for applying in employees quota

Following are entitled to apply in employees quota in upcoming IPO of SBI Cards Limited

Eligibility Rules

  • A permanent employee of SBI Cards or SBI, working in India or outside India (excluding employees who are not eligible to invest in the Offer under laws).
  • A whole-time or part-time Director of SBI Cards who is eligible to apply under the Employee Reservation Portion on the date of filing of the RHP and who continues to be a Director of SBI Cards, until the submission of the Bid cum Application Form.
  • SBI Retired Employees are not eligible to apply in SBI Cards IPO under employee quota
  • Eligible Employees should mention their employee number at the relevant place in the Bid cum Application Form.
  • Directors who directly or indirectly, hold more than 10% of the outstanding Equity Shares in SBI Cards are not eligible to apply.

Allocation Rules in SBI Employees Category

If total demand in the employee category is less than or equal to 1,864,669 Equity Shares (total shares allocated to employees) at or above the Offer Price, the full allocation shall be made to the Eligible Employees.

In case of an under-subscription in the Employee Reservation Portion, the unsubscribed shares may be allocated on a proportionate basis to employees bidding in excess of ₹200,000. However, the total allotment in under-subscription, as well as over-subscription, will not exceed ₹ 500,000

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