SBI offers Rp27bn stake in life insurance unit

By Jonathan Breen
13 Sep 2019

State Bank of India is looking to raise at least Rp26.95bn ($378m) from a stake sale in SBI Life Insurance Co, receiving a flood of early demand.

The government-owned vendor is selling 35m secondary shares, equal to 3.5% of the insurer’s total share capital, through an offer-for-sale (OFS). It has also set aside a further 10m for over-allotment.

Bookrunners HSBC, Nomura and SBI Capital Markets launched the OFS as Indian markets opened on Thursday, marketing ...

Already a subscriber?

Continue reading this article

Try full access to GlobalCapital

Free trial