SBI Life Insurance Company Ltd has announced that it is going to launch its IPO on stock exchanges on 20 September 2017. According to the company, it will launch its Rs. 8,400 crore initial public offering (IPO) for three days. The share sale will end on 22 September 2017. SBI Life is the second life insurer company to go public, Last year the ICICI Prudential Life Insurance Co. Ltd has rolled its IPO to raise Rs. 6000 crore from the markets. The company has priced its IPO in a range of Rs. 685 to Rs. 700 per equity share.
The valuation of the company stands at Rs. 70,000 crore at the upper price band i.e. Rs. 700 per share. The valuation of the company was Rs. 46,000 crore in December 2016. The current valuation of Rs. 70,000 crore is significantly higher than its last valuation. The current stack holder State Bank of India and BNP Paribas Cardiff will sell their stake in this IPO. SBI will sell 8% stake and BNP Paribas will sell 4%. The IPO is pure OFS (Offer for sale).
Investors who want to apply for the SBI Life Insurance IPO must read all details here as we are going to provide all essential information about the SBI Life IPO such as SBI Life IPO Subscription Information, price band, dates, listing dates, SBI Life IPO Allotment and much more. greymarket.co.in is one of the oldest websites, which is serving its readers since 2007.
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SBI Life IPO
About the company: SBI Life Insurance Company Ltd is a Life Insurance Company in India. It was established in 2001. It is a joint venture between State Bank of India (SBI) and BNPPC (BNP Paribas Cardiff). SBI had 70.1% of the holdings and BNP Paribas Cardiff 26%. With this IPO SBI is going to sell 8% of its capital and BNP Paribas 4%. After this IPO, SBI and BNP Paribas will end up with 62.1% and 22% stake respectively. KKR and Temasek Holdings bought 3.9% stake in the company in December 2016.
The company holds a comprehensive product portfolio of 37 individual and group products to handle the insurance needs of diverse customer segments. Currently, pure protection plans are the most profitable products for the company.
Company Promotors: STATE BANK OF INDIA AND BNP PARIBAS CARDIF S.A.
Objects of the Issue
SBI Life Insurance IPO Date, Allotment Status, Grey Market, GMP, Subscription, Listing
|Name||SBI Life Insurance Company Ltd|
|Open Date||20 September 2017|
|Close Date||22 September 2017|
|Allotment Date||27 September 2017|
|Refund Date||27 September 2017|
|Issue Price||Rs. 685 - Rs. 700 Per Equity Share|
|Lot Size||21 Shares|
|Minimum Order Quantity||21 Shares|
|Issue Type||Book Built Issue IPO|
|Issue Size||120,000,000 Equity Shares of Rs 10 aggregating up to Rs 8,400.00 Crore. |
››› Offer for Sale of 120,000,000 Equity Shares of Rs 10 aggregating up to Rs ---- Crore
|Lead Manager||JM Financial Institutional Securities Limited, Axis Capital Limited, BNP Paribas, Citigroup Global Markets India Private Limited, Deutsche Equities India Private Limited, ICICI Securities Limited, Kotak Mahindra Capital Company Limited, SBI Capital Markets Limited|
|Registrar||Karvy Computershare Private Limited|
|Registrar Phone||+91 40 6716 2222|
|Listing at||NSE / BSE|
Daily Subscription Figures
|DATE||SHARES OFFERED||20 September 2017||21 September 2017||22 September 2017|
SBI Life Insurance IPO Price Band
As we mentioned earlier, the shares of SBI Life is going to be sold in a price range of Rs. 685 to Rs. 700 apiece. According to the market experts, the price band is around expected line. It is coming at around 3.1 times FY19 embedded value. The company is expected to raise Rs. 8,400 crore. If you see the price band, you will find that at the upper band of the price, the company will be valued at Rs. 70, 000.
SBI Life Insurance IPO Date
The SBI Life Insurance’s initial share sale offer is going to open on September 20 and close on September 22. The company got approval from the market regulator SEBI on 07 September 2017. The company had filed the DRHP with the Securities and Exchange Board of India (Sebi) in July 2017. Both Primary and secondary markets are showing bullish trends and it is the good time to launch an IPO.
SBI Life Financials
|DATE||TOTAL ASSETS||TOTAL REVENUE||PROFIT AFTER TAX|
|31 March 2017||Rs. 26,782.89||Rs. 302,775.13||Rs. 9,546.53|
|31 March 2016||Rs. 23,110.62||Rs. 191,197.24||Rs. 8,441.03|
|31 March 2015||Rs. 25,516.19||Rs. 231,864.86||Rs. 8,148.67|
|31 March 2014||Rs. 24,341.77||Rs. 173,694.22||Rs. 7,277.53|
|31 March 2013||Rs. 19,756.78||Rs. 149,755.25||Rs. 6,301.12|
|**(All Figures in Rs. million)|
The company has appointed a list of lead managers to handle its issue. The official lead managers for the IPO of SBI Life are “JM Financial Institutional Securities Limited, Axis Capital Limited, BNP Paribas, Citigroup Global Markets India Private Limited, Deutsche Equities India Private Limited, ICICI Securities Limited, Kotak Mahindra Capital Company Limited, SBI Capital Markets Limited“.
Karvy Computershare Private Limited is the registrar to the IPO of SBI Life Insurance. Karvy is going to handle everything related to the IPO and its allotment.
SBI Life Insurance IPO Allotment Status
Karvy Computershare Private Limited is going to issue the allotment status of SBI Life Insurance IPO. The expected allotment date is 27 September 2017. Investors can check the allotment via phone or online. The online allotment link will be posted on our website for our readers.
Listing Date of SBI Life IPO
The expected listing date of the SBI Life IPO is 29 September or 30 September 2017. We will update the date of listing later. Please stay with us for all the latest updates and news about the IPO.