SBI Life Insurance to issue IPO

Guwahati, Sept 14: SBI Life Insurance Company Limited has proposed to open on Wednesday an initial public offering up to 120,000,000 equity shares of face value of 10 each, which comprises of an offer for sale of up to 80,000,000 equity shares by State Bank of India and up to 40,000,000 equity shares by BNP Paribas Cardif S.A.

The Price Band for the Offer is fixed from Rs. 685 per Equity Share to Rs. 700 per Equity Share, with a discount to Eligible Employees of Rs. 68 per Equity 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 Offer will close on Friday, September 22.

The Lead Magers are JM Fincial Institutiol 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*. The Equity Shares offered in the Offer proposed to be listed on BSE Limited and tiol Stock Exchange of India Limited.This was stated in a press release.