The IPO will comprise an offer for sale by State Bank of India and BNP Paribas Cardif S.A. of up to 8 crore shares and up to 4 crore shares respectively.
There are JM Financial, Axis Capital, BNP Paribas, Citi Group and Deutsche Equities India are book running lead managers for the IPO.
Once it lists on the bourses, it would be the second direct listing of an insurance company after ICICI Prudential Life Insurance. ICICI Prudential Life Insurance started trading in September 2016 which is the only insurance company listed on the bourses.
SBI Life Insurance is a joint venture between State Bank of India (SBI) with 74% stake and BNP Paribas Cardif with the remaining 26%.
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.
- Save upto Rs.2.67 lakh with Pradhan Mantri Awas Yojana ...Know more
- Now Save Rs.3150 on your Demat Account ...Click here
- Now get IIFL Personal Loan in just 8* hours...APPLY NOW!
- Get the most detailed result analysis on the web - Real Fast!
- Actionable & Award-Winning Research on 500 Listed Indian Companies.