<p>SBI Cards and Payment Services has raised Rs 2,769 crore from 74 anchor investors, ahead of its initial share sale starting on March 2.</p>.<p>Anchor investors are institutional investors who are offered shares in an initial public offering (IPO) ahead of its opening.</p>.<p>Singapore government, Monetary Authority of Singapore, HDFC Mutual Fund, Government Pension Fund Global and Birla Mutual Fund, are among the anchor investors.</p>.<p>Shares have been allotted at the offer's upper price band of Rs 755 apiece, as per a regulatory filing.</p>.<p>There are 12 mutual funds among the 74 anchor investors, who have been allocated 3,66,69,589 shares and its value stood at Rs 2,768.55 crore.</p>.<p>The price band for the share sale -- which would be open from March 2 to 5 -- has been fixed at Rs 750-755 apiece.</p>.<p>SBI Cards expects to raise around Rs 9,000 crore through the IPO.</p>.<p>As per draft paper for the IPO, SBI Cards would offer up to 130,526,798 equity shares through an offer-for-sale route. This would include offloading of up to 37,293,371 shares by SBI and 93,233,427 scrips by Carlyle Group.</p>.<p>In addition, the company would issue fresh equity shares worth Rs 500 crore.</p>.<p>SBI holds 76 per cent in SBI Cards and the rest of the stake is held by Carlyle Group.</p>
<p>SBI Cards and Payment Services has raised Rs 2,769 crore from 74 anchor investors, ahead of its initial share sale starting on March 2.</p>.<p>Anchor investors are institutional investors who are offered shares in an initial public offering (IPO) ahead of its opening.</p>.<p>Singapore government, Monetary Authority of Singapore, HDFC Mutual Fund, Government Pension Fund Global and Birla Mutual Fund, are among the anchor investors.</p>.<p>Shares have been allotted at the offer's upper price band of Rs 755 apiece, as per a regulatory filing.</p>.<p>There are 12 mutual funds among the 74 anchor investors, who have been allocated 3,66,69,589 shares and its value stood at Rs 2,768.55 crore.</p>.<p>The price band for the share sale -- which would be open from March 2 to 5 -- has been fixed at Rs 750-755 apiece.</p>.<p>SBI Cards expects to raise around Rs 9,000 crore through the IPO.</p>.<p>As per draft paper for the IPO, SBI Cards would offer up to 130,526,798 equity shares through an offer-for-sale route. This would include offloading of up to 37,293,371 shares by SBI and 93,233,427 scrips by Carlyle Group.</p>.<p>In addition, the company would issue fresh equity shares worth Rs 500 crore.</p>.<p>SBI holds 76 per cent in SBI Cards and the rest of the stake is held by Carlyle Group.</p>