SBI Life Insurance Co Ltd will launch an initial public offering next week to raise as much as $1.3 billion, sources with direct knowledge told Reuters, in what will be the country's first billion-dollar IPO in nearly seven years. SBI Life, a subsidiary of top Indian lender State Bank of India, will open the IPO sale to the public on September 20 and close it on September 22, according to a filing. Two sources said the shares will be sold in a price range of 685 rupees to 700 rupees apiece. The IPO will raise as much as 84 billion rupees ($1.3 billion) for SBI Life's two ...
SBI Life to launch India's first billion dollar IPO since CIL in 2010
The IPO will raise as much as Rs 8400 crore for SBI Life's two main shareholders - State Bank of India and BNP Paribas Cardif - which are paring their stakes