CPPIB anchors SBI Life's $1.3 bln IPO, India's biggest since 2010: Reuters
SBI Life Insurance Co Ltd’s initial public offering to raise 84 billion rupees (US$1.3 billion), India’s biggest IPO in seven years, was subscribed more than 3.5 times on the closing day, strengthening the outlook for share sales in what is expected to be a record year, Reuters reported. SBI Life, which will be the second life insurance company to list, saw bids for about 29.5 million shares, compared to the 8.8 million shares on offer, stock exchange data showed. Anchor investors, including Canada Pension Plan Investment Board and Singapore state investor GIC, have already committed to subscribe to 22.26 billion rupees worth of shares.
22 September 2017•2 mins read
