SBI Life Insurance gets SEBI approval for Rs 8,400 crore IPO

Posted on:07 Sep 2017 16:08:49
SBI Life Insurance gets SEBI approval for Rs 8,400 crore IPO
07 September 2017 Current Affairs:

SBI Life Insurance received approval from the Securities and Exchange Board of India for an IPO (Initial Public Offering) of up to Rs 8,400 crore ($1.3 billion).

It involves 120 million secondary shares or 12 per cent of the insurer's equity capital. State Bank of India which currently owns 70.1 per cent of the insurer, will sell 80 million shares and BNP Paribas Cardif, holder of a 26 per cent stake, will sell 40 million.


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