SBI Cards & Payment Services Limited is an Indian credit card company and payment provider. It is the second largest credit card issuer in India with nearly 2 crore credit cards in force.
SBI Cards is the only ‘pure-play’ credit card business listed on the Indian stock market.
It started as a joint venture between India’s largest multinational bank – State Bank of India (SBI), and GE Capital in 1998, issuing credit cards and acting as a corporate insurance agent.
Ensuring safety and transparency in transactions and as a subsidiary of the SBI, it readily joined the group of top credit card issuers in India after HDFC Bank.
It’s a major co-brand credit card issuer, partnering with various prominent companies like Air India, IRCTC, Ola Money, Yatra, and many other prominent companies.
SBI Cards boasts a vast customer acquisition network with a sales force of 32,000+ personnel across 140+ cities, engaging customers through various channels, including various online platforms. Its partnership with SBI gives access to a vast customer base.
Think about it this way – State Bank of India is the largest bank in India with more than 22,500 branches in every nook and corner of the country. Each customer of the bank becomes a potential customer of their credit card business too.
Due to this, SBI Cards has been consistently increasing its customer base with new products and premium cards.
For instance, in 2021, it introduced premium cards like BPCL SBI Card OCTANE and AURUM, targeting CXOs, and sourced 26.9 lakh new accounts.
In 2022, SBI Cards launched Nature’s Basket SBI Card, SPRINT, and more, sourcing 35.72 lakh new accounts.
In 2023, it introduced the CASHBACK SBI Card (which became an instant hit on the internet), Aditya Birla SBI Card, and PSB SBI Card, acquiring 52.02 lakh new accounts.
The Company constantly strives to match shifting consumer preferences, industry trends, and brand memory as it offers more than 60+ credit card options.
Micro, small, and medium-sized businesses (MSMEs) can now also apply for the “SimplySAVE Merchant SBI Card” from SBI Card, which offers short-term lending choices in addition to other special incentives.
SBI Card IPO Share Price
SBI Cards came up with its Initial Public Offering (IPO) in March 2020 – during the first Covid wave and the ‘2020 stock market crash’.
The ₹ 10,000 crore IPO, which was priced at ₹ 755, was subscribed more than 26 times.
SBI Cards listed on the two major stock exchanges (BSE and NSE) on March 16, 2020. The timing could not have been worse, as the market crash was its absolute peak during this period.
The company listed at a price of ₹ 661 – about 12.5% lower than its IPO price. The stock price closed at ₹ 682 on the first day of its trade.
Nearly 4 years later, SBI Cards continues to trade at around its IPO price – giving investors little or no gain so far. The fundamentals of the company have improved as SBI cards has issued more credit cards and sustained its market share inspite of strong competition from other players.
SBI Cards Share Price History
| Year | Share Price | Gain / Loss |
|---|---|---|
| IPO | ₹ 755.00 | |
| Listing | ₹ 682.00 | - 9.7% |
| 2020 | ₹ 850.80 | + 24.8% |
| 2021 | ₹ 928.00 | + 9.1% |
| 2022 | ₹ 795.00 | - 14.3% |
| 2023 | ₹ 761.00 | - 4.3% |
| 2024 | ₹ 680.65 | - 10.6% |
SBI Cards Share Price Chart
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SBI Cards Stock Calculator
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The SBI Cards calculator will tell you the value of your SBI Cards investment in 2024.
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- During 2020, the share price of SBI Cards was ₹ 755.
- If you had bought shares worth ₹ 2500 in 2020, you would have 33 shares today.
- At the end of 2024, the current value of your shares would be ₹ 22538.
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