BNP Paribas Cardif offloaded another 5.074 per cent stake in SBI Life Insurance through a block deal.
The private sector insurer made the disclosure to the BSE in a regulatory filing on Friday, and BNP Paribas Cardif said the move is not to comply with SEBI’s public float norms.
“We would like to clarify that this sale is not being undertaken as per the methods prescribed by SEBI for achieving the minimum public shareholding (MPS) threshold, and is not being undertaken with a view to comply with the MPS threshold,” it said.
