Indian lender SBI's credit card unit aims to raise $1.1b via IPO

Indian lender SBI's credit card unit aims to raise $1.1b via IPO

State Bank of India. Photo: Pradeep Gaur/Mint

SBI Card & Payments Services Ltd, the credit card subsidiary of State Bank of India (SBI), plans to raise about 80 billion Indian rupees ($1.12 billion) via an initial public offering this year, a senior SBI executive involved in the process said.