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SBI Life Insurance Collects Rs. 2,226 Crores on First Day of IPO Opening
September 25, 2017
Holding its initial share sale for a public subscription this Wednesday, SBI Life Insurance Company was able to raise Rs. 2,226 crores from its anchor investors which include Kotak, ICICI Prudential, Abu Dhabi Investment Authority, HSBC, Axis MF, etc. The public subscription will be closed on September 22.
SBI Life is largely owned by the State Bank of India and BNP Paribas Cardif (BNPPC) with their equity being 70.10% and 26% respectively. The minority shareholders are MacRitchie Investments Pte and Value Life Pte, each having a 1.95% stake.
