SBI Life started as a 74:26 joint venture between public sector lender SBI and BNP Paribas Cardif of France.

The sale price of the OFS shares has been fixed at Rs 650 a piece.

In October 2017, SBI Life listed after a maiden initial public offer at Rs 700 per share.

The transactions were carried out as bulk deal from one investor to another.

BNP Paribas Cardif S.A. cut its stake in the insurer by 9.23 percent to 12.77 percent, the company said.

At upper end of the price band, IPO attracted subscription of close to Rs 25,000 crore.

The company is a joint venture between State Bank of India and BNP Paribas Cardif.

SBI Life, which is 70% owned by SBI and 26% by BNP Paribas Cardif, will not receive any proceeds.

SBI also said it is exploring the possibility of diluting 8 per cent stake sale of SBI Life through IPO out of 10 per cent Offer for Sale.

BI Life Insurance Company is unlikely to go public before the next couple of years while SBI's proposed 10% sell stake to the overseas part...

Company's individual new business premium grew by 32 per cent over the same period last year to Rs 1,556 crore during the quarter.

BNP Cardif will increase its stake by buying SBI's shares in the life insurance business and there will be no fresh capital infusion.

Stake dilution by SBI will help the country's largest bank in monetising its investment and provide growth capital for banking business.

"The executive committee of the central board has today authorised divestment of SBI's stake in SBI Life Insurance by up to 10 per cent," S...

The executive committee of the central board of the bank authorised the divestment on Monday, State Bank of India said in a statement to th...

Recently, SBI chief Arundhati Bhattacharya stated to a wire agency that it is in talks with the joint venture partner regarding list of the...

SBI Life Insurance is aiming big on bancassurance as a distribution channel for its future growth.