SBI Cards & Payment Services Ltd., established in 1998 and based in Gurgaon, India, is a subsidiary of State Bank of India (SBI), one of the largest banks in the country. The company aims to provide a wide range of card solutions, including credit cards, co-branded cards, and digital payment services that cater to the evolving needs of retail customers.
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Company overview and issue history are AI generated, and should not be cited or relied on without verification.
SBI Cards commenced its bond issuance in 2019, leveraging the capital markets to facilitate growth and strengthen its balance sheet. Notable bond offerings have included the issuance of ₹5,000 crore in secured non-convertible debentures in 2021, reflecting investor confidence in its robust business model. As of October 2023, SBI Cards' bond yields are competitive within the industry, partly due to its strategic positioning and solid financial backing from SBI. Continuous efforts towards bond offerings are aimed at optimizing its cost of capital while enhancing liquidity, which has attracted significant interest from institutional investors.