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CPPIB sells 2.3% stake in SBI Life Insurance Company

The shares were sold at Rs 1,171 apiece

SBI Life Insurance | Canada Pension Fund | share sales

BS Reporter 

SBI Life Insurance, SBI Life
(Photo: Reuters)

The Canada Pension Plan Investment Board (CPPIB) on Thursday sold 23 million shares (2.3 per cent stake) of 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.

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First Published: Fri, September 10 2021. 00:15 IST