SBI Life Insurance IPO To Hit Market Soon:
Since We have updated in Feb, 2017 that SBI Life Insurance Ltd IPO can hit market by Q1 2017-18. Now as per latest update the Executive Committee of Central Board in its meeting held on Friday accorded in-principle approval for initial public offer (IPO), SBI said in a regulatory filing to stock exchanges.
The board has given approval to “initiate process for offer for sale of 10 per cent of shares through initial public offer”, it said.
SBI also said it is exploring the possibility of diluting 8 per cent stake sale of SBI Life through IPO out of 10 percent Offer for Sale.
SBI Life Insurance is a joint venture between the bank and BNP Paribas Cardif. SBI owns 74 percent of the total capital and BNP the rest.
BNP ruled out increasing its stake in SBI Life to 49 percent ahead of the proposed initial public offering slated for next year.
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.
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Now Avanue Supermarts (Dmart) IPO Allotment and Listing also completed. And people made an awesome 100% profit on listing.
Now CL Educate (CLEL) IPO bidding has been closes on March 22, 2017. Now CL Educate (CLEL) IPO Allotment and Listing will be in process. While Shankara Building Products Ltd IPO (SBPL IPO) bidding also closed on 24 March 2017. Now Shankara Building Products IPO Allotment and Listing will be in process.
Grey Market Premium (GMP) of CL Educate IPO (CLEL IPO) is still now active. While Grey Market Premium (GMP) of Shankara Building Products Ltd (SBPL) IPO is trading between Rs 124 – Rs 126 per equity share.
Next in the pipeline will be HUDCO IPO, Central Depository Services Ltd IPO (CDSL IPO) and Continental Warehousing Corporation Ltd IPO (Nhava Seva IPO).
Some SME IPO will also be active in market in coming week.
Keep watching this blog to keep yourself updated with all the news.
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