SBI Life has received capital market regulator SEBI’s approval to raise an estimated Rs. 6,500-7,000 crore through its initial share sale offering.
The company had filed its draft red herring prospectus (DRHP) with Sebi in July and got “observations” from the regulator on September 4, which is very necessary for any company to launch a public offer.
Besides, three insurance players — HDFC Standard Life Insurance Company, General Insurance Corporation of India (GIC Re) and New India Assurance Company — are awaiting SEBI’s nod to float their respective IPOs, showed the latest update with the markets regulator.
