SBI Life Insurance Company Limited
SBI Life Insurance Company Limited is a joint venture between the State Bank of India and BNPPC. It was established in 2001. As of June 30, 2017 it has a portfolio of 37 individual and group products. They have a multi-channel distribution network. It comprises of an expansive bancassurance channel, including State Bank, the largest bancassurance partner in India, a large and productive individual agent network comprising 93,849 agents as of June 30, 2017, as well as other distribution channels including direct sales and sales through corporate agents, brokers, insurance marketing firms and other intermediaries. SBI Life Insurance Company Limited is a leader in Indiain the private life insurance sector, in terms of New Business Premium generated in each fiscal year, since Fiscal 2010.
The company has won the following awards: Life Insurance Company of the Year and Bancassurance Leader Life Insurance (Large Category) at the Indian Insurance Awards 2016 organised by Fintelekt, the Economic Times Best Corporate Brand, 2016 and the LIMRA and LOMA Social Media Silver Bowl Awards, 2016 at the Social Business Conference for Financial Services in Boston, Massachusetts.
OBJECTS OF THE ISSUE:
The objects of the Offer are to achieve the benefits of listing Equity Shares on the Stock Exchanges and to carry out the sale of up to 120,000,000 Equity Shares by the Selling Shareholders. The listing of Equity Shares will enhance the “SBI Life” brand name and provide liquidity to the existing Shareholders. The listing will also provide a public market for Equity Shares in India.
PROMOTERS OF THE COMPANY:
State Bank: As of March 31, 2017, State Bank was India’s largest commercial bank in terms of deposits, advances and number of branches (Source: RBI data). Following its recent merger with certain of its associate banks and a non-affiliate bank, with effect from April 1, 2017, State Bank had 24,017 branches and 195 international offices in 36 countries and more than 420 million customers.
BNPPC: BNPPC, an insurance subsidiary of BNP Paribas, with operations across 36 jurisdictions internationally, is among the leading credit life insurance businesses globally. BNP Paribas was a top 10 global financial institution in terms of revenues in 2016 (Source: Fortune Global 500).
FINANCIALS THE COMPANY:
Balance sheet: Consolidated (Rupees in million)
Profit and Loss: Consolidated (Rupees in million)
Cash Flow: Consolidated (Rupees in million)
As on 22-Sep-2017 18:30:01 IST
|Investor type||Shares Reserved||Bids Received(NSE+BSE)||No. of times|
|Issue Period||20-Sep-2017 to 22-Sep-2017|
|Post issue Modification Period||23-Sep-2017 & 25-Sep-2017 (10.00 A.M. to 1.00 P.M.)|
|Issue Size||Public Offer of upto 120,000,000 Equity Shares|
|Issue Type||100% Book Building|
|Price Range||Rs 685 to Rs 700|
|Discount||A discount of Rs. 68 per Equity Share to Eligible Employees bidding in the Employee Reservation Portion|
|Face Value||Rs 10|
|Tick Size||Re 1|
|Bid Lot||21 Equity Shares and in multiples thereof|
|Minimum Order Quantity||21 Equity Shares|
|Maximum Subscription Amount for Retail Investor||Rs. 2,00,000|
|IPO Market Timings||10.00 a.m. to 5.00 p.m.|
|Book Running Lead Managers||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|
|Syndicate Members||JM Financial Services Limited, Kotak Securities Limited, SBICAP Securities Limited, Sharekhan Limited|
|Categories||FI, IC, MF, FII, OTH, CO, IND, NOH, EMP and SHA|
|Name of the Registrar||Karvy Computer Share Private Limited|
|Address of the Registrar||Karvy Selenium Tower B, Plot 31-32, Gachibowli, Financial District, Nanakramguda, Hyderabad ,Telangana 500 032, India|
|Contact person name number and Email id||M Murali Krishna , +91 40 6716 2222, firstname.lastname@example.org|
(will be updtaed after the issue is complete)
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