News From Press SBI Life Insurance IPO to open on Sep 20

SBI Life Insurance IPO to open on Sep 20

Source: Business Line/PTI Sep 13, 2017

SBI Life Insurance, a subsidiary of the country’s largest lender SBI, will hit the capital market on September 20 to raise up to Rs. 8,400 crore.

The initial share sale offer will open on September 20 and close on September 22, SBI said in a regulatory filing to the stock exchanges.

This would be the second listing of a life insurer after ICICI Prudential Life Insurance, which went public last year.

According to sources, SBI Life Insurance has fixed a price range of Rs. 685—700 for the IPO.

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