SBI Cards and Payment Services Private Ltd has invited book-running lead managers and legal counsels for a proposed initial public offering.
SBI is expected to raise Rs 6,000 crore through the stake sale. State Bank of India holds 74 per cent stake in SBI Cards, and the balance by Carlyle group.
Earlier, SBI chief Rajnish Kumar said the IPO of the cards division could be held in the fourth quarter of the current fiscal.
In an advertisement SBI Cards on Monday invited expressiond of interest from BRLMs and legal counsels.
Shares of SBI are currently trading at Rs 289.50, down 0.48 per cent