With SBI Life Insurance Co. Ltd’s Rs8,400 crore initial public offering (IPO) set to hit the market on Wednesday, analysts said that the issue is fairly priced and investors should park their funds from a long-term perspective.
SBI Life Insurance’s IPO will the biggest to hit the market since Coal India Ltd’s issue in October 2010. It is also the fourth-largest IPO by issue size.
It has a price band of Rs685-700 per share. The IPO will see SBI and its joint venture partner BNP Paribas Cardif SA sell 8% and 4% of their stakes in the life insurance firm. At the upper end of the price band, SBI will get Rs5,600 crore from its stake sale, while BNP Paribas Cardif will earn Rs2,800 crore.
ALSO READ:- www.ripplesadvisory.com
No comments:
Post a Comment