SBI Life shares rise on trading debut after $1.3 billion IPO

MUMBAI (Reuters) - SBI Life Insurance Co Ltd rose as much as 5.7 percent on its market debut on Tuesday, after its initial public offering raised $1.3 billion in India's biggest IPO in seven years.

As of 0431 GMT, SBI Life shares were trading at 735 rupees on the National Stock Exchange, 5 percent higher than the IPO issue price of 700 rupees.

(Reporting by Devidutta Tripathy and Swati Bhat; Editing by Sunil Nair)