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SBI Life Insurance Company files DRHP for IPO

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and Cardif together offer up to 12 crore for sale

State Bank of India announced that its subsidiary, Life Company has filed a draft red herring prospectus with the SEBI for an initial public offer of up to 120,000,000 equity of face value of Rs 10 each, representing 12% of its paid up equity share capital for cash, through an offer for sale by State Bank of India and Cardif S.A of up to 80,000,000 equity (representing 8% of the paid up share capital) and up to 40,000,000 equity shares (representing 4% of the paid up share capital), respectively.

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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Mon, July 17 2017. 20:10 IST