SBI Cards and Payment Services Limited

Nippon India Mutual Fund increased its stake in SBI Cards and Payment Services Limited from 2.35% to 2.38%, acquiring 283,208 additional shares. The value of the additional shares is approximately ₹18.5 Cr based on the share price of ₹654.70.

A leading credit card issuer in India, SBI Cards and Payment Services Limited provides consumer credit card solutions and payment services across the country. Operating as a systemically important non-deposit accepting NBFC registered with the RBI, the company is headquartered in Gurgaon, Haryana. It functions as a subsidiary of the State Bank of India, leveraging its parent's extensive banking network and established customer relationships to drive card issuance and financial services delivery.

India's fifth-largest AMC with over Rs 6 lakh crore in AUM, backed by Japan's Nippon Life Insurance which holds majority stake. Formerly Reliance MF, rebranded in 2019 after Nippon's acquisition. Sailesh Raj Bhan has run the equity book for over two decades and is one of India's most experienced active managers. Known for sector rotational calls and a deep research bench.