The share sale will close on 22 September.
The insurer has priced its shares in a range of Rs685-700 per share. The price band has been set at ₹685-700 an equity share with a minimum bid of 21 equity shares. SBI sold 3.9% stake in the company to private equity investors in December 2016 for ₹1,800 crore. Lp and Temasek Holdings Pte Ltd for around Rs1,794 crore. "Yes, we have taken 23 years to come back to the market again", said Arundhati Bhattacharya, chairman, SBI, while announcing the IPO.
The book-running lead managers to the offer are JM Financial Institutional Securities Limited, Axis Capital Limited, BNP Paribas, Citigroup Global Markets India Private Limited, Deutsche Equities India Private Limited, ICICI Securities Limited, Kotak Mahindra Capital Company Limited and SBI Capital Markets Limited.
Ford Motor Company (NYSE:F) Holdings Held by Chickasaw Capital Management LLC
Shares of Ford Motor Company (NYSE:F) traded up 0.09% in the last session while performance was up 11.36% in the last five days. General Electric Company has a beta of 1.15, offering the possibility of a higher rate of return, but also posing more risk.
The company is a joint venture between State Bank of India, the country's biggest lender, and BNP Paribas Cardif. The public offering of SBI Life's shares is the first billion-dollar IPO from India since 2010. The IPO will be open for subscription for three days starting next Wednesday, SBI said in a statement on Tuesday.
As of 31 March, SBI Life Insurance had assets under management (AUM) of Rs97,736.6 crore, up 37% from a year ago.
SBI Life Insurance will be the second life insurer to go public.
At present, ICICI Prudential Life Insurance is the only insurance company to be listed on the Indian stock exchanges.
- Ronaldo returns to action for Real Madrid in UEFA Champions League
- Monaco privé de Subasic à Leipzig — Ligue des champions
- FEMA nominee withdraws amid report of Katrina conflict
- Ligue Europa, le virage sud boycotté par les supporters — OM
- LAUSD Board President Ref Rodriguez charged with conspiracy
- Maduro Mutko claims dismissed by Federation Internationale de Football Association
- Government abolishes public sector pay cap
- See Why The Rihanna Navy Is Dragging Kylie Cosmetics
- Hellboy: First Look at David Harbour, New Logo Revealed
- Ford Tests Making Autonomous Vehicles Communicate with Pedestrians