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SBI Life to launch India's first billion-dollar IPO in seven years

Reuters  |  MUMBAI 

By Devidutta Tripathy and S. AnuradhaMUMBAI (Reuters) - SBI Life Insurance Co will launch next week what will be India's first billion-dollar initial public offering since 2010, paving the way for a record-setting year for IPOs in the country.SBI Life, a unit of top Indian lender State Bank of India (SBI), will open the share sale to the public on Sept. 20 and close it on Sept. 22, according to a filing. The shares, that will begin trading Oct. 3 will be sold in a price range of 685-700 rupees apiece, raising as much as 84 billion rupees ($1.3 billion) for SBI Life's main shareholders - SBI ...

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First Published: Wed, September 13 2017. 14:27 IST