The Mauritius company acquired 9 crore shares (representing 9 percent of total paid-up equity) in SBI Life through open market transaction in opening.
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SBI Life Insurance Company shares rebounded sharply after steep fall in early trade amid large block deal.
The stock recovered and gained 6.5 percent after falling more than 12 percent in early trade.
The insurance major company said CA Emerald Investments was the buyer in that block deal.
The Mauritius company acquired 9 crore shares (representing 9 percent of total paid-up equity) in SBI Life through open market transaction in opening.
BNP Paribas was the seller in the above block deal.
"BNP Paribas Cardif S A has successfully sold 92,252,908 equity shares of company, cumulatively representing 9.2 percent of the total issued and paid-up equity share capital, as on March 1, 2019," SBI Life said.
At 12:05 hours IST, the stock was quoting at Rs 600.95, up Rs 20.45, or 3.52 percent on the BSE.First Published on Mar 1, 2019 09:43 am
