SBI Life Insurance Company Ltd.

SBI Life Insurance Company is coming out with a 100% book building; initial public offering (IPO) of 12,00,00,000 shares of Rs 10 each in a price band Rs 685-700 per equity share. The issue will open for subscription on September 20, 2017 and will close on September 22, 2017. The shares will be listed on BSE as well as NSE.

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 12,00,00,000 Equity Shares by the Promoter Selling Shareholders.

The book running lead managers to the issue are JM Financial Institutional Securities, Axis Capital, BNP Paribas, Citigroup Global Markets India, Deutsche Equities India, ICICI Securities, Kotak Mahindra Capital Company and SBI Capital Markets, while the compliance officer for the issue is Aniket K. Karandikar.

The company is India’s largest private life insurer, in terms of New Business Premium generated in each fiscal year, since Fiscal 2010. The company has developed a multi-channel distribution network comprising bank branches of SBI and its associated banks, individual agent network (93,849 agents) and other distribution channels including direct sales and sales through corporate agents, brokers, insurance marketing firms and other intermediaries.