Bookbuilding IPO | ₹8,389 Cr | Listed at BSE, NSE | Wed, Sep 20, 2017 - Fri, Sep 22, 2017
SBI Life Insurance IPO is a book build issue of ₹8,388.73 crores. The issue is entirely an offer for sale of 12.00 crore shares of ₹8,388.73 crore.
SBI Life Insurance IPO bidding started from Sep 20, 2017 and ended on Sep 22, 2017. The allotment for SBI Life Insurance IPO was finalized on Sep 27, 2017. The shares got listed on BSE, NSE on Oct 3, 2017.
SBI Life Insurance IPO price band is set at ₹700 per share. The lot size for an application is 21. The minimum amount of investment required by an retail is ₹14,700 (21 shares) (based on upper price). The lot size investment for sNII is 14 lots (294 shares), amounting to ₹2,05,800, and for bNII, it is 69 lots (1,449 shares), amounting to ₹10,14,300.
The issue includes a reservation of up to 20,00,000 shares for employees offered at a discount of ₹68.00 to the issue price.
Axis Capital Ltd. is the book running lead manager and Kfin Technologies Ltd. is the registrar of the issue.
Refer to SBI Life Insurance IPO RHP for detailed Information.
IPO Open
Wed, Sep 20, 2017
IPO Close
Fri, Sep 22, 2017
Issue Price
₹700 per share
Market Cap (Pre-IPO)
₹70,000.00 Cr
| IPO Date | 20 to 22 Sep, 2017 |
| Listed on | Tue, Oct 3, 2017 |
| Face Value | ₹10 per share |
| Price Band | ₹685 to ₹700 |
| Issue Price | ₹700 per share |
| Lot Size | 21 Shares |
| Sale Type | OFS only |
| Issue Type | Bookbuilding IPO |
| Listing At | BSE, NSE |
| Employee Discount | ₹68.00 |
| Total Issue Size | 12,00,00,000 shares (agg. up to ₹8,389 Cr) |
| Offer for Sale | 12,00,00,000 shares of ₹10 (agg. up to ₹8,389 Cr) |
| Share Holding Pre Issue | 1,00,00,00,000 shares |
| Share Holding Post Issue | 1,00,00,00,000 shares |
| BSE Script Code / NSE Symbol | 540719 / SBILIFE |
| ISIN | INE123W01016 |
SBI Life Insurance IPO comprises a total issue size of 12,00,00,000 shares. The net offer to the public is 10,60,00,000 shares, after excluding 1,40,00,000 shares under a preferential allotment. Of the Net offer 5,30,00,000 (50.00%) are allocated to QIB, 1,59,00,000 (15.00%) allocated to NII 3,71,00,000 (35.00%) allocated to RII.
| Investor Category | Shares Offered | % of Net Issue | % of Total Issue | Max Allottees |
|---|---|---|---|---|
| QIB Shares Offered | 5,30,00,000 | 50.00% | 44.17% | NA |
| − Anchor Investor Shares Offered | 3,18,00,000 | 26.50% | NA | |
| − QIB (Ex. Anchor) Shares Offered | 2,12,00,000 | 17.67% | NA | |
| NII (HNI) Shares Offered | 1,59,00,000 | 15.00% | 13.25% | NA |
| Retail Shares Offered | 3,71,00,000 | 35.00% | 30.92% | 17,66,666 |
| Preferential Reservations | ||||
| Employee Shares Offered | 20,00,000 | 1.67% | NA | |
| Shareholders Shares Offered | 1,20,00,000 | 10.00% | NA | |
| Total Shares Offered | 12,00,00,000 | 100.00% | 100.00% | |
Investors can bid for a minimum of 21 shares and in multiples thereof.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 21 | ₹14,700 |
| Retail (Max) | 13 | 273 | ₹1,91,100 |
| S-HNI (Min) | 14 | 294 | ₹2,05,800 |
| S-HNI (Max) | 68 | 1,428 | ₹9,99,600 |
| B-HNI (Min) | 69 | 1,449 | ₹10,14,300 |
SBI Life Insurance IPO raises ₹2,226.00 crore from anchor investors. SBI Life Insurance IPO Anchor bid date is September 19, 2017.
📝 Anchor Investors Letter (PDF)
| Bid Date | Tue, Sep 19, 2017 |
| Shares Offered | 3,18,00,000 |
| Anchor Portion (₹ Cr.) | 2,226.00 |
| Anchor lock-in period end date for 50% shares (30 Days) | Fri, Oct 27, 2017 |
| Anchor lock-in period end date for remaining shares (90 Days) | Tue, Dec 26, 2017 |
| Application Category | Maximum Bidding Limits | Bidding at Cut-off Price Allowed |
|---|---|---|
| Only RII | Up to Rs 2 Lakhs | Yes |
| Only sNII | Rs 2 Lakhs to Rs 10 Lakhs | No |
| Only bNII | Rs 10 Lakhs to NII Reservation Portion | No |
| Only shareholder | Up to Rs 2 Lakhs | Allowed only if bidding amount is upto Rs 2 lakhs |
| Only employee | Yes | |
| Employee + Shareholder |
|
Yes |
| Employee + Shareholder + RII/NII |
|
Yes for shareholder/employee/RII |
| Shareholder + RII/NII |
|
Yes for shareholder/RII |
| Employee + RII/NII |
|
Yes for shareholder/RII |
Note: To be eligible for the Shareholder Quota, you must hold shares in one of the following companies:
Incorporated in 2000, SBI Life Insurance Company Limited is India based private life insurer. SBI Life Insurance is a joint venture between the State Bank and BNPPC. State Bank is India's largest commercial bank. BNPPC, an insurance subsidiary of BNP Paribas, with operations across 36 jurisdictions internationally, is among the leading credit life insurance businesses globally. BNP Paribas is in top 10 global financial institution in terms of revenue.
SBI Life has product a portfolio of 37 individual and group products, including a range of protection and savings products to address the insurance needs of diverse customer segments.
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.
SBI Life turned profitable within the first five years of our operations, and have declared dividends every year since 2012.
Competitive Strengths
1. Largest private life insurer in India since 2010.
2. Backed by SBI and BNPPC
3. Vast multi-channel distribution with pan-India presence (Branches, Agents and Online)
4. Strong capital base. Company has not required additional capital infusion since 2008.
5. Diversified product portfolio
| Period Ended |
|---|
| Amount in ₹ Crore |
The SBI Life Insurance IPO is subscribed 3.55 times on September 22, 2017 5:00:00 PM (Day 3). The public issue subscribed 0.81 times in the retail category, 12.56 times in the QIB category, and 0.7 times in the NII category. Check Day by Day Subscription Details (Live Status)
| Category | Subscription (times) | Shares Offered | Shares bid for |
|---|---|---|---|
| QIB | 12.56 | 2,12,00,000 | |
| NII | 0.7 | 1,59,00,000 | |
| Retail | 0.81 | 3,71,00,000 | |
| Employee | 1.02 | 20,00,000 | |
| Others | 0.38 | 1,20,00,000 | |
| Total | 3.55 | 8,82,00,000 |
| # | Issue Expenses | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | Fees payable to the Lead Managers (including underwriters fees) | 18.00 |
| 2 | Selling commission and processing fees for SCSBs(1)(2) and Selling commission, brokerage, and bidding charges for the Syndicate Members, Registered Brokers, RTAs and CDPs | 16.90 |
| 3 | Fees payable to Registrar to the Offer | 0.79 |
| 4 | Printing and stationery expenses | 5.30 |
| 5 | Advertising and marketing expenses | 27.00 |
| 6 | Others: (i) Listing fees; (ii) SEBI and Stock Exchanges processing fees; (iii) Book building fees payable to Stock Exchanges; (iv) Fees payable to Joint Auditors and independent chartered accountants; (v) Fees payable to legal counsels* ; and (vi) Miscellaneous | 29.96 |
| Price Details | BSE | NSE |
|---|---|---|
| Final Issue Price | ₹700.00 | ₹700.00 |
| Open | ₹733.30 | ₹735.00 |
| Low | ₹702.25 | ₹701.70 |
| High | ₹738.00 | ₹740.00 |
| Last Trade | ₹708.00 | ₹707.55 |
Lead Manager Reports
SBI Life Insurance IPO is a main-board IPO of 12,00,00,000 equity shares of the face value of ₹10 aggregating up to ₹8,389 Crores. The issue is priced at ₹700 per share. The minimum order quantity is 21.
The IPO opens on Wed, Sep 20, 2017, and closes on Fri, Sep 22, 2017.
Kfin Technologies Ltd. is the registrar for the IPO. The shares are proposed to be listed on BSE, NSE.
Zerodha customers can apply online in SBI Life Insurance IPO using UPI as a payment gateway. Zerodha customers can apply in SBI Life Insurance IPO by login into Zerodha Console (back office) and submitting an IPO application form.
Steps to apply in SBI Life Insurance IPO through Zerodha
Visit Zerodha IPO Application Process Review for more detail.
The SBI Life Insurance IPO opens on Wed, Sep 20, 2017 and closes on Fri, Sep 22, 2017.
SBI Life Insurance IPO lot size is 21, and the minimum amount required for application is ₹14,700.
You can apply in SBI Life Insurance IPO online using either UPI or ASBA as a payment method. ASBA IPO application is available in the net banking of your bank account. UPI IPO Application is offered by brokers who don't offer banking services. Read more detail about applying IPO online through Zerodha, Upstox, 5Paisa, Nuvama, HDFC Bank, and SBI Bank.
The finalization of Basis of Allotment for SBI Life Insurance IPO will be done on Wednesday, September 27, 2017, and the allotted shares will be credited to your demat account by Fri, Sep 29, 2017. Check the SBI Life Insurance IPO allotment status.
The SBI Life Insurance IPO listing date is on Tue, Oct 3, 2017.
