News From Press IRDA gives in-principle approval for SBI Life IPO of Rs 7,400-8,500 cr

IRDA gives in-principle approval for SBI Life IPO of Rs 7,400-8,500 cr

Source: Moneycontrol Jul 8, 2017

Insurance Regulatory and Development Authority has given an in-principle approval for the IPO of SBI's life insurance subsidiary, reports CNBC-TV18 quoting sources.

It is learnt that SBI Life Insurance is likely to file draft red herring prospectus (DRHP) with capital market regulator SEBI in coming weeks.

The life insurance subsidiary of the country's largest bank will approach the insurance regulator again for final nod after SEBI approval.

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