SBI Cards and Payment Services Limited has completed the allotment of 29,896 equity shares to eligible employees under its Employee Stock Option Plans on December 22, 2025. The Nomination and Remuneration Committee of the Board approved this allotment through its resolution dated December 22, 2025.

ESOP Allotment Details

The share allotment was executed under two distinct ESOP schemes with different exercise prices:

The shares were allotted to eligible participants of the company pursuant to the exercise of options under the SBI Card-Employee Stock Option Plan 2019 and Employee Stock Option Plan 2023.

Impact on Share Capital

The allotment has resulted in an increase in the company's paid-up capital structure:

The paid-up capital increased from ₹9,51,54,75,040 consisting of 95,15,47,504 equity shares to ₹9,51,57,74,000 consisting of 95,15,77,400 equity shares, each with a face value of ₹10.00.

Regulatory Compliance

SBI Cards and Payment Services Limited has informed both the BSE Limited and the National Stock Exchange of India Limited about this allotment under Regulation 30. The company has also uploaded the relevant information on its official website at www.sbicard.com for stakeholder reference.

The event was timestamped at December 22, 2025, at around 05:37 PM, with the communication signed by Payal Mittal Chhabra, Chief Compliance Officer and Company Secretary of SBI Cards and Payment Services Limited.

Bernstein has maintained its 'Underperform' rating on SBI Cards and Payment Services, setting a price target of ₹780.00 for the stock. This rating indicates the brokerage firm's cautious stance on the credit card company's performance outlook.

Analyst Rating Details

The maintained rating reflects Bernstein's assessment of SBI Cards' current market position and operational performance. An 'Underperform' rating typically suggests that the analyst expects the stock to perform below market averages or face headwinds in the near term.

Market Context

SBI Cards operates in the competitive credit card and payment services sector, where companies face various challenges including regulatory changes, market competition, and economic factors that can impact growth prospects. The maintained 'Underperform' rating suggests Bernstein continues to hold reservations about the company's ability to outperform market expectations.

The price target of ₹780.00 provides investors with Bernstein's valuation assessment for the stock, serving as a benchmark for potential investment decisions in the credit card services sector.