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SBI Life plans IPO; SBI to dilute 10% stake in insurer

SBI Life plans IPO; SBI to dilute 10% stake in insurer

Friday, March 24, 2017, 9:34 PM

SBI today said it plans to dilute 10% of its stake in the life insurance venture SBI Life through public offer. The Executive Committee of Central Board in its meeting held today accorded in-principle approval for IPO, SBI said in regulatory filing to stock exchanges. The insurer has an authorised capital of Rs 2,000 crore and a paid up capital of Rs 1,000 crore.
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