CPPIB sells 2.3% stake in SBI Life Insurance Company

The Canada Pension Plan Investment Board (CPPIB) on Thursday sold 23 million shares (2.3 per cent stake) of SBI Life Insurance Company. The shares were sold at Rs 1,171 apiece.

 

The Canadian investment manager raised Rs 2,693 crore through the share sale. BNP Paribas picked up 1 per cent stake, according to bulk deal data disclosed on the BSE.

 

Shares of SBI Life fell 3.86 per cent to Rs 1,172.8. Prior to the share sale, CPPIB held 28.58 million (2.86 per cent) stake in SBI Life.