SBI Life hits new high after Carlyle affiliate offloads entire 1.9% stake

Around 19.24 million equity shares, representing 1.92 per cent of the total equity of SBI Life had changed hands on the BSE till 10:55 am

Shares of SBI Life Insurance Company hit a record high of Rs 1,174, up 3 per cent on the BSE in intra-day trade on Thursday after US private equity fund CA Emerald Investments, an affiliate of Carlyle Asia Partners, offloaded its entire 1.9 per cent stake in the company via multiple block deals. The stock of the life insurer surpassed its previous high of Rs 1,147.95 touched on July 29, 2021.

At 10:55 am, SBI Life traded 1.2 per cent higher at Rs 1,150.45 on the BSE, as compared to a 0.14 per cent decline in the S&P BSE Sensex. Around