The launch period of the IPO is further subjected to an approval from the Registrar of Companies, who will give a final nod to the proposal. The IPO will also include 12% of the insurer’s equity capital summing up to 120 million secondary shares.
The State Bank of India presently holds 70.1% of the insurer and will sell off 8 crore shares, whereas, BNP Paribas Cardif which presently holds 26% stake will sell off 4 crore shares.
The other major shareholders of SBI Life are KKR Asian Fund and Temasek Holdings, that holds 1.95% stake through their subsidiaries. Axis, BNP, Citigroup, Deutsche Bank, ICICI Securities, JM Financial, Kotak and SBI Capital will be the leads on the IPO.
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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