SBI Life Insurance files for IPO, to raise over â¹6,400 crore
SBI Life Insurance, a unit of State Bank of India, has filed for an initial public offering (IPO), that will reportedly raise over $1 billion (over â¹6,400 crore). SBI and its joint venture partner BNP Paribas Cardif are selling up to 8% and 4% stake, respectively. SBI Life will be the second Indian life insurer to go public.