 "SBI Life falls 5% as BNP Paribas’ offer-for-sale opens today")
SBI Life Insurance shares dipped 5 per cent to Rs 675 in early morning trade on the BSE on Tuesday, as BNP Paribas Cardif's offer-for-sale (OFS) opened today. The floor price has been fixed at Rs 650 per share.
BNP Paribas Cardif, the foreign partner of SBI Life Insurance, will sell up to 25 million shares, representing 2.5 per cent stake in the insurance company, for at least Rs 1,625 crore through OFS mechanism. The two-day OFS today opened for non-retail investors and on Wednesday for retail investors.
As on March 31, 2019, BNP Paribas held 77 million
BNP Paribas Cardif, the foreign partner of SBI Life Insurance, will sell up to 25 million shares, representing 2.5 per cent stake in the insurance company, for at least Rs 1,625 crore through OFS mechanism. The two-day OFS today opened for non-retail investors and on Wednesday for retail investors.
As on March 31, 2019, BNP Paribas held 77 million
