The stock is trading below its issue price of Rs 700 per share. The stock was listed on NSE on October 3, 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.
SBI Life is India’s largest private life insurer, in terms of New Business Premium, a position the company has maintained since FY10.
Meanwhile, the major benchmark indices Sensex was trading up by 182 points at 31,765 level and Nifty was trading up by 67 points at 9,955 level.
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