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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 ₹700.00 per share . The lot size for an application is 21. The minimum amount of investment required by an retail is ₹14,385 (21 shares). 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 Date | September 20, 2017 to September 22, 2017 |
| Listing Date | October 3, 2017 |
| Face Value | ₹10 per share |
| Issue Price Band | ₹685 to ₹700 per share |
| Issue Price Final | ₹700 per share |
| Lot Size | 21 Shares |
| Sale Type | Offer For Sale |
| Total Issue Size | 12,00,00,000 shares (aggregating up to ₹8,388.73 Cr) |
| Employee Discount | ₹68.00 |
| Issue Type | Bookbuilding IPO |
| Listing At | BSE, NSE |
| Share Holding Pre Issue | 1,00,00,00,000 shares |
| Share Holding Post Issue | 1,00,00,00,000 shares |
SBI Life Insurance IPO offers total 12,00,00,000 shares. Out of which 5,30,00,000 (44.17%) allocated to QIB, 2,12,00,000 (17.67%) allocated to QIB, 1,59,00,000 (13.25%) allocated to NII, 3,71,00,000 (30.92%) allocated to RII and 3,18,00,000 (26.50%) allocated to Anchor investors.
| Investor Category | Shares Offered | Maximum Allottees |
|---|---|---|
| QIB Shares Offered | 5,30,00,000 (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 (13.25%) | NA |
| Retail Shares Offered | 3,71,00,000 (30.92%) | 17,66,666 |
| 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%) |
| 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 | Up to | 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:
SBI Life Insurance IPO opens on September 20, 2017, and closes on September 22, 2017.
| IPO Open Date | Wed, Sep 20, 2017 |
| IPO Close Date | Fri, Sep 22, 2017 |
| Tentative Allotment | Wed, Sep 27, 2017 |
| Initiation of Refunds | Thu, Sep 28, 2017 |
| Credit of Shares to Demat | Fri, Sep 29, 2017 |
| Tentative Listing Date | Tue, Oct 3, 2017 |
| Cut-off time for UPI mandate confirmation | 5 PM on Fri, Sep 22, 2017 |
Investors can bid for a minimum of 21 shares and in multiples thereof. The following table depicts the minimum and maximum investment by Individual Investors (Retail) and HNI in terms of shares and amount.
| 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 |
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
| Particulars | For the year/period ended (in Rs. million) | |||||
|---|---|---|---|---|---|---|
| 31-Mar-17 | 31-Mar-16 | 31-Mar-15 | 31-Mar-14 | 31-Mar-13 | ||
| Total Assets | 26,782.89 | 23,110.62 | 25,516.19 | 24,341.77 | 19,756.78 | |
| Total Revenue | 302,775.13 | 191,197.24 | 231,864.86 | 173,694.22 | 149,755.25 | |
| Profit After Tax | 9,546.53 | 8,441.03 | 8,148.67 | 7,277.53 | 6,301.12 | |
[Dilip Davda] Life insurance sector is expected to fare better. Investment may be considered for long term. Read detail review...
| Listing Date | October 3, 2017 |
| BSE Script Code | 540719 |
| NSE Symbol | SBILIFE |
| ISIN | INE123W01016 |
| Final Issue Price | ₹700 per share |
| BSE Listing Group | B |
SBI Life Insurance Co.Ltd.
NATRAJ,
M. V. Road and Western Express Highway Junction,
Andheri (East), Mumbai 400 069
Andheri, Maharashtra
Phone: +91 22 6191 1000
Email: investor@sbilife.co.in
Website: https://www.sbilife.co.in/
Kfin Technologies Ltd.
Phone: 04067162222, 04079611000
Email: einward.ris@karvy.com
Website: https://ipostatus.kfintech.com/
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 ₹8,388.73 Crores. The issue is priced at ₹700 per share. The minimum order quantity is 21.
The IPO opens on September 20, 2017, and closes on September 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 September 20, 2017 and closes on September 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 Friday, September 29, 2017. Check the SBI Life Insurance IPO allotment status.
The SBI Life Insurance IPO listing date is on Tuesday, October 3, 2017.
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