For Quick Alerts
For Daily Alerts

SBI To Divest 2.1% Stake In SBI Life To Comply With Public Shareholding Rule


On Thursday, the country's leading state-run lender SBI has given a go-ahead to divest 2.1% of its holding in SBI Life Insurance for meeting the public shareholding norm. This the bank has approved via the offer for sale or OFS platform.

SBI To Divest 2.1% Stake In SBI Life To Meet Public Shareholding

By selling over 2 crore shares in SBI Life, the bank will comply with minimum public stake holding norm of 25%. The floor price for the OFS has been fixed at Rs. 725 per share and offer window opens today. On, Thursday, the stock price of SBI Life closed at Rs. 741.45 per share on the BSE.

SBI as on March 31 held 57.6% stake in the insurance subsidiary.

SBI Life Insurance, established in the year 2001, is a joint venture between SBI and BNP Paribas Cardif.

Read more about: sbi sbi life shareholding
Story first published: Friday, June 12, 2020, 7:06 [IST]
Company Search
Get Instant News Updates
Notification Settings X
Time Settings
Clear Notification X
Do you want to clear all the notifications from your inbox?
Settings X
We use cookies to ensure that we give you the best experience on our website. This includes cookies from third party social media websites and ad networks. Such third party cookies may track your use on Goodreturns sites for better rendering. Our partners use cookies to ensure we show you advertising that is relevant to you. If you continue without changing your settings, we'll assume that you are happy to receive all cookies on Goodreturns website. However, you can change your cookie settings at any time. Learn more