Moneycontrol
Get App
you are here: HomeNewsBusinessIPO
Last Updated : Sep 29, 2017 02:07 PM IST | Source: PTI

SBI Life to start its market innings on Tuesday

The initial public offer (IPO) of Rs 8,400 crore was oversubscribed 3.58 times on September 20-22. The portion meant for qualified institutional buyers (QIBs) was oversubscribed 12.56 times while that of non- institutional investors received 70 per cent subscriptions and retail investors 85 per cent, data available with the NSE showed.

SBI Life Insurance Company, which recently completed its initial share sale offer, will make its stock market debut on Tuesday.

The initial public offer (IPO) of Rs 8,400 crore was oversubscribed 3.58 times on September 20-22. The portion meant for qualified institutional buyers (QIBs) was oversubscribed 12.56 times while that of non- institutional investors received 70 per cent subscriptions and retail investors 85 per cent, data available with the NSE showed.

SBI Life is a joint venture between India's largest lender State Bank of India (SBI) and BNP Paribas Cardif (BNPPC), the insurance holding company of France.

Close
The insurer had fixed the price band for the IPO at Rs 685-700 per share. JM Financial Institutional Securities, Axis Capital, BNP Paribas, Citigroup Global Markets India, Deutsche Equities India, ICICI Securities, Kotak Mahindra Capital Company and SBI Capital Markets were the book running lead managers to the offer.

Get access to India's fastest growing financial subscriptions service Moneycontrol Pro for as little as Rs 599 for first year. Use the code "GETPRO". Moneycontrol Pro offers you all the information you need for wealth creation including actionable investment ideas, independent research and insights & analysis For more information, check out the Moneycontrol website or mobile app.
First Published on Sep 29, 2017 01:50 pm
Sections
Follow us on