SBI Life Insurance to launch $1.3b IPO on September 20

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State Bank of India on Tuesday said that its life insurance joint venture-SBI Life Insurance Co Ltd-has fixed a price band of Rs685-700 per share for its initial public offering (IPO).

The SBI Life Insurance IPO will be launched on 20 September, according to SBI’s filing with the stock exchanges on Tuesday. The IPO will see SBI and its joint venture partner BNP Paribas Cardif SA sell 8% and 4% of their stake in the life insurance firm.

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