The stock price of lender has risen 0.35% in a week. However, it has declined 28% in a month, 16% in the year 2020 and 80% in one year's period. The market capitalisation of the micro-cap stock currently stands at Rs 483 crore.

As per IPO's tentative dates, the electronic credit of allotted shares to successful applicants in their Demat accounts will be done by March 13, 2020. The initiation of refund for investors who are not allotted shares will be done on March 12, 2020

Share Market LIVE: In terms of sector, gains in Financials, FMCG, media and private banks were capped by losses in PSU Bank, metal , IT and pharma scips

Coronavirus outbreak in India: Decisions related to health lie with the states, but by invoking Section 2 of the Epidemic Diseases Act, advisories and directions of Union Ministry of Health and Family Welfare can be enforced across the country; check out all latest coronavirus news on BusinessToday.In live blog

Dealers in India offered a discount of up to $25 an ounce to official domestic prices, the most since late September, and up from last week's $14 discount

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The IPO of the second-largest card issuer of the country received bids for over 37 crore equity shares against IPO size of 10.02 crore equity shares, as per data available on the National Stock Exchange (NSE).

Share Market Update: BSE 30-share S&P Sensex closed 214 points lower at 38,409 and Nifty50 ended 49 points lower at 11,254

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The price band for the initial public offering (IPO) which will close on March 5 has been fixed at Rs 750 to Rs 755 per share. SBI's credit card arm aims to garner Rs 10,355 crore by selling 13.71 crore shares of face value Rs 10 each.

Equitas Small Finance Bank IPO: The offer includes a reservation of up to Rs 100 crore for subscription by eligible EHL shareholders and a reservation aggregating up to Rs 5 crore for subscription by eligible employees

At the interbank foreign exchange the rupee opened at 72.50, then gained further ground and touched a high of 72.43 against the US dollar, registering a rise of 33 paise over its previous close.

SBI Cards IPO: The Rs 10,355-crore share sale attracted bids for 62% of the portion allotted to retail investors

Share Market LIVE: BSE 30-share S&P Sensex traded 86 points higher at 38,231 and Nifty50 traded 50 points lower at 11,183.

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The much-awaited IPO (Initial Public Offering) of State Bank of India's card subsidiary SBI Cards and Payments Services Ltd opened for subscription today. Market analysts are hoping the issue will get a bumper response and SBI Cards also aims to mop-up over Rs 10,000 crore. With the IPO, SBI Cards will become the fifth company under the SBI Group to be listed on bourses. Watch the video for more.Also Read: Slowdown Blues: Fitch cuts India's FY20 GDP forecast to 4.9%

SBI Cards IPO received 3.91 crore bids compared to the issue size of 10.02 crore shares. Total 2.73 crore bids were received at a cut off price of Rs 755 per share

Shares of Indiabulls Housing Finance opened higher and traded as the top gainer on BSE, rising 9.99%. Later, the shares touched an intraday high of Rs 339.2, rising 60 points or 21.45% against the previous closing of Rs 279.20.

Following the update, Escorts share price rose 5.11% today. It later gained 10.7% and touched an intraday high of Rs 863.75, as against the last closing value of Rs 780.10.

SBI Cards IPO has hit the market when Nifty is down 8% and Sensex has lost over 7% since the beginning of this year.