Friday, September 15, 2017

.@SBILife plans to unlock value for its stakeholders through #IPO route

Bengaluru: SBI Life Insurance IPO is opening on September 20, 2017 and closes on Friday September 22, 2017.The Price Band for the Offer is fixed from Rs. 685 per Equity Share to Rs. 700 per Equity Share, with a discount to eligible employees of Rs. 68 per Equity Share on the offer price. Bids can be made for a minimum of 21 Equity Shares and in multiples of 21 Equity Shares thereafter.
Promoters State Bank of India (SBI) and BNP Paribas Cardiff seek to garner Rs.5,600 crore and Rs.2,400 crore, respectively, from the IPO.SBI Life Insurance reported a sharp growth in new business premium, reduction in expense ratio and an improvement in persistency ratios.

Established as a joint venture between the State Bank and BNP Paribas Cardif S. A. in 2001, SBI Life Insurance Company Limited is India’s largest private life insurer.It has developed a multi-channel distribution network comprising an expansive bancassurance channel, including State Bank, the largest bancassurance partner in India, a large and productive individual agent network comprising 95,177 agents as of July 31, 2017, as well as other distribution channels including direct sales and sales through corporate agents, brokers, insurance marketing firms and other intermediaries. SBI Life Insurance’s superior growth makes the IPO valuations look fair.