Fixes Offer price of Rs 700 for shareholders and employees (discount of Rs 68 on offer price)
State Bank of India announced that in relation to proposed IPO of SBI Life, the Offer Price has been decided to be Rs 700 per share aggregating Rs 8386.40 crore (subject to finalisation of Basis of Allotment).The Offer include a reservation of 20 lakh equity shares for purchase by eligible employees bidding under Employee Reservation Portion at a discount of Rs 68 on the Offer Price aggregating to Rs 126.40 crore and a reservation of 1.20 crore equity shares for State Bank shareholders aggregating Rs 840 crore.
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