SBI Life Insurance lists at premium of 5%

India Infoline News Service | Mumbai | October 03, 2017 10:02 IST

SBI Life Insurance, a subsidiary of the country's largest lender State Bank of India (SBI), listed on NSE at Rs 735 per share, up by 5% or Rs 35 per share, as compared to its issue price of Rs 700.

SBI Life Insurance, a subsidiary of the country's largest lender State Bank of India (SBI), listed on NSE at Rs 735 per share, up by 5% or Rs 35 per share, as compared to its issue price of Rs 700.
 
SBI Life is a joint venture between SBI and BNP Paribas Cardif (BNPPC). Its initial public offer (IPO) of Rs 8,400 crore was oversubscribed 3.58 times between September 20 and September 22.
 
The portion meant for qualified institutional buyers (QIBs) was oversubscribed 12.56 times, while those meant for non- institutional investors and retail investors received 70% and 85% subscription, respectively, data available with the NSE showed.
 
JM Financial Institutional Securities, Axis Capital, BNP Paribas, Citigroup Global Markets India, Deutsche Equities India, ICICI Securities, Kotak Mahindra Capital Company and SBI Capital Markets were the book running lead managers to the offer.
 
SBI Life is India’s largest private life insurer, in terms of New Business Premium, a position the company has maintained since FY10

***Note: This is a NSE Chart

Disclaimer: The contents herein is specifically prepared by ‘Dalal Street Investment Journal’, and is for your information & personal consumption only. India Infoline Limited or Dalal Street Investment Journal do not guarantee the accuracy, correctness, completeness or reliability of information contained herein and shall not be held responsible.

 

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