- After his election, Trump abandoned a number of international projects
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Here are 10 Things You Need To Know About The SBI Life IPO1) The price band for the IPO has been fixed at Rs 685-700 per share, SBI Life said in a regulatory filing on Tuesday.
2) At the upper end of the price band, SBI Life is expected to raise Rs 8,400 crore.
3) The IPO will remain open for three days and will see promoters offloading up to 12 crore shares of face value of Rs 10 each through the offer of sale route, the filing said.
4) While state-run SBI is selling up to an 8 per cent stake, or 80 million shares, in SBI Life, private stake holder BNP Paribas Cardif is selling up to a 4 per cent stake, or 40 million shares.
5) SBI said an employee discount of Rs 68 will be offered per share to eligible employees in the IPO according to the BSE filing.
6) SBI Life's IPO is set to be the biggest since state-run Coal India's Rs. 15,500 crore IPO in 2010.
8) SBI Life has a share capital of Rs 1,000 crore. The company has seen its net worth increase to Rs 5,552 crore from Rs 4,733 crore in the last fiscal year.
9) Citi, Deutsche Bank, Axis Capital, BNP Paribas, JM Financial, ICICI Securities, Kotak Investment Banking and SBI Capital Markets are the book running lead managers to the issue.
10) ICICI Prudential Life Insurance's Rs 6,057 crore IPO in 2016 was the first public offering by an Indian insurer.
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