Business SBI Cards may be the largest IPO of FY20: All you need to know Updated : November 29, 2019 11:41 AM IST State Bank of India has filed an initial draft with the market regulator Sebi to sell up to 4 percent stake in its credit card venture SBI Cards and Payments Services. It is looking to raise around Rs 9,600 crore through an initial public offering (IPO) under the offer-for-sale route. While Carlyle is looking to sell 10 percent stake via the IPO, SBI would sell 4 percent stake in the company. Subscribe to Moneycontrol PRO at just Rs.33/- per month for the first year. Use code SUPERPRO. Limited period offer. Available on Web and Android.