Updated By: LatestGKGS Desk
SBI Life Insurance lists on the bourses at Rs. 733 Slips soon after
State Bank of India (SBI) Life Insurance lists on the bourses at Rs. 733 Slips soon after
State Bank of India (SBI) Life Insurance made it market debut as it got listed on the bourses at Rs. 733 Slips soon after
The issue price of the stock was fixed a Rs 700 per share however the scrip opened at a premium of 33.35, pushing the open price at Rs 733.35.
However, within 20 minutes of trading, the stock slipped 1.50 percent on Sensex.
The Life Insurance Company ( the subsidiary of the State Bank of India) issued an Initial Public Offering (IPO) worth Rs 8,400 crore the previous month.
The Initial Public Offering was oversubscribed 3.58 times.
The meant for qualified institutional buyers (QIBs) was oversubscribed 12.56 times.
Whereas, those meant for non-institutional investors and retail investors receive 70 percent and 85 percent subscription respectively NSE data showed.
State Bank of India is a joint venture between SBI and BNP Paribas Cardiff is the second life insurance company after ICICI Prudential Life Insurance to list on the market.
