SBI Life Insurance Company files DRHP for IPO

SBI and BNP Paribas Cardif together offer up to 12 crore shares for sale

State Bank of India announced that its subsidiary, SBI Life Insurance Company has filed a draft red herring prospectus with the SEBI for an initial public offer of up to 120,000,000 equity shares 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 BNP Paribas Cardif S.A of up to 80,000,000 equity shares (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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