SBI Life IPO Can Hit Market Soon Next Year:
State Bank of India (SBI) can make its insurance arm SBI Life a public company and can get it listed in market. As per sources they are targeting next financial year that is 2017-18 to get it listed on stock exchange.
State Bank of India (SBI) is looking to sell 5 percent stake in its life insurance arm SBI Life. The country’s largest bank owns 74 percent in SBI Life while its foreign partner BNP Paribas owns 26 percent.
The stake sale will help infuse funds into the bank’s balance sheet and help it discover price for a potential IPO for SBI Life. Currently, the insurer could be valued at Rs 30,000 crore though merchant bankers will be appointed to come up with a value.
SBI is currently talked to private-equity investors and institutions for the stake sale. This value can be indicative value for the IPO also.
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Endurance Technologies IPO (Endurance Tech IPO) bidding has already start from October 05, 2016.
While lot of SME IPO’s are going to be active in current week.
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