State Bank of India proposes to sell up to 3.5 crore shares of SBI Life Insurance Company on Thursday (for non-retail investors only) and Friday (for retail investors and non-retail investors who choose to carry forward their unallotted bids) through the offer-for-sale window on the stock exchanges. The OFS has an option to additionally sell up to one crore shares in the event of oversubscription, SBI Life said in a filing to the stock exchanges. The stake sale is being done to meet the SEBI norm of 25 per cent minimum public shareholding, SBI Life said. The floor price for the sale has been fixed at ₹770 a share.
COMMENT NOW
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.