SBI Life Insurance Company Limited ("Company" or "Issuer") proposes to open on Wednesday, September 20, 2017, an initial public offering up to 120,000,000 Equity Shares of face value of 10 each (“Equity Shares”) which comprises of an offer for sale of up to 80,000,000 Equity Shares by State Bank of India (“State Bank” or the “Promoter Selling Shareholder”) and up to 40,000,000 Equity Shares by BNP Paribas Cardif S.A. (the “Investor Selling Shareholder” and together with the Promoter Selling Shareholder, the “Selling Shareholders”) (“Offer”), including a reservation of up to 2,000,000 Equity Shares for purchase by Eligible Employees.
The Price Band for the Offer is fixed from Rs. 685/- per Equity Share to Rs. 700/- per Equity Share, with a discount to Eligible Employees of Rs. 68 per Equity Share on the Offer Price. Bids can be made for a minimum of 21 Equity Shares and in multiples of 21 Equity Shares thereafter. The Offer will close on Friday, September 22, 2017.
The Company and the Promoter Selling Shareholders may, in consultation with the book running lead managers to the Offer ("Lead Managers"), consider participation by Anchor Investors. Such Anchor Investors shall Bid during the Anchor Investor Bid / Offer Period; i.e., one Working Day prior to the Bid/Offer Opening Date, on which Bids by Anchor Investors shall be submitted and allocation to Anchor Investors shall be completed.
The Lead Managers 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 and SBI Capital Markets Limited*.
The Equity Shares offered in the Offer proposed to be listed on BSE Limited and National Stock Exchange of India Limited.
