Disclosure under Regulation 30 and 51 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015-Press Release
Awaiting price reaction for this filing.
SBI Card, India's largest pure-play credit card issuer, has partnered with Apollo HealthCo to launch a premium co-branded credit card called 'Apollo SBI Card SELECT' focused on health and wellness. Cardholders can earn up to 25% value back on purchases at Apollo 24|7 app and select Apollo Pharmacy stores — 10% as reward points plus up to 15% as health credits redeemable on Apollo platforms. Welcome benefits include a ₹1,500 e-gift voucher, Apollo Circle perks, and a complimentary 1-year FITPASS PRO Membership. The card carries a joining/renewal fee of ₹1,499 (reversed on ₹3 lakh annual spends), offers airport lounge access, milestone rewards like a free health check-up and a Noise smartwatch, and is available on both RuPay and MasterCard networks. SBI Card has over 20 million cards in force as of March 2025, while Apollo HealthCo serves 37 million+ registered users across 6,500+ pharmacy stores.
This expands SBI Card's co-branded portfolio into the fast-growing health and wellness segment and opens access to Apollo HealthCo's large consumer base, which could support new customer acquisition and card spend growth. For shareholders, it strengthens product diversification and partnership-led distribution, though the announcement is largely a product launch with no direct near-term revenue impact disclosed.