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SBI Life Insurance IPO Can Hit Market In Q1 FY 2017-18

SBI Life Insurance IPO Can Hit Market In Q1 FY 2017-18:

As told investors that SBI Life Insurance IPO can hit market in financial year 2017-18, now as per latest update it can hit market in Q1 of FY 2017-18.

SBI Life Insurance will decide on going for Initial Public Offering (IPO) in the first quarter of next fiscal, according to its managing director and chief executive officer Arijit Basu.

As per sources SBI Life Insurance may offer 10% stake in the initial public offering (IPO) when it files paper with market regulator SEBI.

SBI Life Insurance is a joint venture between State Bank of India and BNP Paribas Cardif. SBI owns 74% of the total capital and BNP Paribas Cardif the remaining 26% stake. The insurer has an authorised capital of Rs2,000 crore and a paid up capital of Rs1,000 crore.

Early December, State Bank of India had sold 3.9% of its stake in SBI Life to global private equity major KKR and the Singaporean sovereign fund Temasek Holdings for Rs1,794 crore or $264 million, valuing the third largest private life insurer at around Rs46,000 crore.

Market Update:

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Now GreenSignal Bio Pharma IPO bidding has been withdrawn from market due to lack of response.

After GreenSignal Bio Pharma IPO, Sheela Foam Ltd IPO also given great listing gains. While Laurus Labs IPO investors also will be happy with the gains they got on listing.

BSE IPO (Bombay Stock Exchange IPO) is listing is on 3rd February 2017. Current Grey Market Premium (GMP) of BSE (Bombay Stock Exchange) is Rs 194 – Rs 196 per equity share.

Some SME IPO will also be active in market in coming week.

This year we can see some good IPO hitting market like HDFC Standard life insurance, SBI life insurance etc.

Keep watching this blog to keep yourself updated with all the news.

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