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SBI Life Insurance to Make Stock Market Debut
October 03, 2017
After completing its initial share sale offer only recently, SBI Life Insurance Co. Ltd. is now preparing to make a debut in the stock market this Tuesday.
On September 22, the company’s Initial Public Offering (IPO) worth Rs. 8,400 crores, which was the biggest in Indian in the past seven years, was subscribed 3.57 times. For the 8,82,00,000 shares offered, it received bids for 31,54,78,569 of them. The IPO attracted subscription of about Rs 25,000 crore.
SBI Life is a joint venture between State Bank of India and BNP Paribas Cardif.