Daily Notifications as on 21st July 2020


1. Scrip code : 718663
Name : Mahindra & Mahindra Ltd.
Subject : Announcement under Regulation 30 (LODR)-Updates on Acquisition
We refer to the letter dated 18th July, 2020 of Mahindra & Mahindra Financial Services Limited, a listed subsidiary of the Company (“MMFSL”), intimating the Stock Exchanges that the Board of MMFSL has inter alia approved Rights Issue of Equity Shares of the face value of Rs. 2 each at an Issue Price of Rs. 50 per fully paid up Equity Share (including premium of Rs. 48 per share) for an aggregate amount not exceeding Rs.3,089 Crores assuming full subscription (‘Issue’). The full amount of the Issue Price will be payable on application. In furtherance to the above as well as the Company’s intimation to the Stock Exchanges dated 12th June, 2020 we wish to inform that the Loans and Investment Committee of the Company, has today accorded its approval to the matters stated in the attached letter.

2. Scrip code : 539112
Subject : Shareholders Meeting Held On 30/08/2020
Meeting of Shareholders on 30th August 2020 at 10:00 A.M. at the Registered Office of the Company for amalgamation of Steel Strips Limited (Transferor Company) with SAB Industries Limited (Transferee Company) pursuant to Sections 230 to 232 and other applicable provisions of the Companies Act, 2013. Further, the Company is providing to members facility of voting through Remote e-voting and Poll at the Meeting on the Resolution/business stated above. Central Depository Services Limited (CDSL) is appointed as voting Agency for facilitating e-voting by Members. The period of e-voting is as under: Start date and time of voting 31st July, 2020 at 9:00 A.M End date and time of voting 29th August, 2020 at 5;00 P.M The cut-off date for determining eligibility of Members entitled to vote in e-voting and at the venue, will be Friday, June 12, 2020. We hereby enclose copy of Notice of aforesaid Meeting for your perusal and request you to take the above information on record.

SBI Cards and Payments Services


Market Cap: Rs 73,520 crs 


52 Week High/ Low: Rs 789/ 495


CMP: Rs 780


IPO Performance: 


During the quarter ended March 31, 2020, the Company had come up with an Initial Public Offering (IPO) of 137,149,314 Equity Shares of face value Rs 10 each comprising of a Fresh Issue of 6,622,516 Equity Shares and an Offer for Sale of 130,526,798 Equity Shares aggregating to Rs.1,034,0.8 crs.


SBI Cards did not perform very well at its IPO  and listed 13% below its offer price. 


List Date IPO Listing % Variance BSE 09/07/2020 % Variance
Price in Rs Price in Rs List Price over Price in Rs Current Price over
16-Mar-20 755 658 -13 780 3.3




SBI Cards showed a 14% rise in their Q1 profits this year due to higher interest income. There was also a 20% rise in their cards in force showing that they have acquired new customers even during the pandemic with the rate close to pre-pandemic numbers. 

Given the rise in cards and an increase in profits, it shows that the new cards distributed by them are being used. 


21/07/2020 SBI Cards
Year FV CMP Equity Net Worth Long Term Debt Total Income PAT BV EPS P/E P/BV Promoter’s Holdings
Rs Rs Rs Cr. Rs Cr. Rs Cr. Rs Cr. Rs Cr. Rs Rs %
Q1 2021 10 780 938 5734 2195 393 61 16.8 47 13 69.53
FY 2020 10 938 5341 16117 9752 1244 57 13.3 69.55
FY 2019 10 837 3587 12352 7287 864 43 10.3


For Q1 2021:

  1. P/E is annualised
  2. Networth is calculated 


Additional Data:


In accordance with the RBI Circulars dated March 27, 2020 and April 17, 2020 with regard to providing relief to borrowers on account of COVI D-19 pandemic, SBI Card has offered a moratorium on credit card dues to eligible borrowers in accordance with a Board approved policy. In this backdrop, The Company, based on current estimates, has created an additional management overlay on Expected Credit Loss (ECL) amounting to Rs 489.25 crs during the quarter and year ended March 31, 2020.