Opinion Poll

Will You Invest In Newly Launched Indian Insurance Public Issues?


 
 
  News
Headline : SBI Life Insurance files for IPO to disinvest 12 pc, likely raise more than $1 billion
 
News Date : Jul 17, 2017
Source : Agencies
 
IPO will comprise an offer for sale by SBI and BNP Paribas Cardif S.A. of up to 8 crore shares and up to 4 crore shares respectively

JULY 17:  


SBI Life Insurance Company has filed for an IPO. The initial public offer will be for up to 12 crore equity shares.


The filing did not mention how much the IPO would raise, although bankers have previously said it would likely raise more than $1 billion 

SBI Life Insurance is a joint venture between State Bank of India (SBI) with 74 percent stake and BNP Paribas Cardif with the remaining 26 percent.



Shares offered through a red herring prospectus are proposed to be listed on the BSE and NSE.


The IPO will comprise an offer for sale by State Bank of India and BNP Paribas Cardif S.A. of up to 8 crore shares and up to 4 crore shares respectively.


Among the book running lead managers for the IPO are JM Financial, Axis Capital, BNP Paribas, Citi Group and Deutsche Equities India.


Once it lists on the bourses, it would be the second direct listing of an insurance company. So far ICICI Prudential Life Insurance (which started trading in September last year) is the only insurance company listed on exchanges.

It has market share of 17.3 percent in private insurance space and a total market share of 5.1 percent for the financial year 2015-16.


The company posted a profit of Rs 861 crore in FY16, registering a growth of 5 percent over previous year.


 

 
 

 
 

 
Past Issues
   
 
 
 
 
Copyright: All rights reserved. New Media Services Pvt. Ltd Powered by: Krrishi Technologies - +91 9324343753