SBI to dilute 2.1% stake in SBI Life Insurance via offer for sale

The country’s largest lender State Bank of India (SBI) will pare 2.1 per cent of its stake in the subsidiary SBI Life Insurance via an offer for sale. The offer for sale will open on June 12 with a floor price of Rs 725 apiece, which is at 2.1 per cent discount from the last close. SBI is expected to mop up almost $202 million via the share sale.
 

In a statement to the exchanges, SBI said, its board has given a nod to divest 2.1 per cent stake in SBI Life to achieve minimum public shareholding of 25 per