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SBI Life dips 4% as Canada Pension Plan offloads partial stake

At 09:15 am, around 23.4 million equity shares, representing 2.34 per cent equity of SBI Life Insurance Company, changed hands via block deals on the BSE

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Illustration: Binay Sinha

SI Reporter Mumbai
Shares of SBI Life Insurance Company slipped 4 per cent at Rs 1,171 on the BSE in the intra-day trade on Thursday after the Canada Pension Plan Investment Board (CPPIB) offloaded 2 per cent stake in the life insurance company via open market today.

At 09:15 am, around 23.4 million equity shares, representing 2.34 per cent equity of SBI Life Insurance Company, changed hands via block deals on the BSE, the exchange data shows.

According to terms of the deal obtained by Bloomberg, the Canada Pension Plan Investment Board (CPPIB) planned to offload 2 per cent stake in