SBI Life Insurance shares slip 2% as SBI's two-day OFS begins

SBI plans to raise up to Rs 3,465 crore by offloading up to 4.5 per cent stake in SBI Life to comply with the minimum public shareholding norms.

SBI Life Insurance Company dipped 2 per cent to Rs 786 in Thursday's early morning trade on the BSE as the two-day offer for sale (OFS) in the company by the State Bank of India (SBI) opened today.

The SBI plans to sell up to 3.5 crore equity shares (3.5 per cent of the total paid-up equity) in its insurance arm on September 12-13, as per SBI Life Insurance Company's exchange filing. READ THE FILING HERE

In a separate filing yesterday, SBI said its board had approved an offer-for-sale of at least 3.5 per cent stake in