SBI Life Insurance's Rs 8400 cr IPO with price band Rs 685-700 per share hits Indian markets today
SBI Life Insurance, The Insurance Arm Of The Country's Largest Lender State Bank Of India, Will Come Out With Its Initial Public Offering On Wednesday To Raise Up To Rs 8,400 Crore From The Capital Markets.
SBI Life Insurance, the insurance arm of the country's largest lender State Bank of India, will come out with its initial public offering on Wednesday to raise up to Rs 8,400 crore from the capital markets.
The share sale offer which opens on Wednesday will close on 22 September. This would be the second listing of a life insurer after ICICI Prudential Life Insurance, which went public last year.
The price band for SBI Life IPO is Rs 685-700 per equity share with a discount to eligible employees of Rs 68 per share on the offer price.
Bids can be made for a minimum of 21 equity shares and in multiples of 21 equity shares thereafter. The equity shares will be listed on the BSE and the NSE.SBI will dilute 10 percent of its stake in the life insurance venture SBI Life through public offer.
For all the Latest Business News, Download News Nation Android and iOS Mobile Apps.
More from Business
Take Control Of Your Financial Goals: Apply For A Personal Loan Now
Nihal Dangoria: An Indian Entrepreneur Making a Bright Future For The Real Estate Industry
Data breach incident at Extramarks highlights growing cybersecurity concerns in Indian companies
How is ePayLater empowering retailers across the country
Follow your heart, but don't ignore your mind When it comes to investing