Disclosure under Regulation 30 and 51 of the (Listing Obligations and Disclosure Requirements) Regulations, 2015 - Product Launch
Awaiting price reaction for this filing.
SBI Cards and Payment Services Ltd has announced the launch of a new credit card called 'Apollo SBI Card SELECT' on May 15, 2025. The card belongs to the 'Rewards' category and is being introduced in the domestic Indian market. The disclosure was made under SEBI LODR Regulations 30 and 51, which is a standard regulatory requirement for material corporate events. The filing was signed by Payal Mittal Chhabra, Chief Compliance Officer & Company Secretary. The product is a co-branded card with Apollo, likely targeting the retail and healthcare spending segments.
For retail investors, this is a routine product expansion announcement with no immediate material impact on earnings or stock price. New co-branded cards can help grow SBI Cards' customer base and spending volumes over time, but the short-term financial impact is expected to be limited.