Anchor Investors help SBI Life Insurance’s IPO raise Rs. 2226 crore

SBI Life Insurance opened up for public subscription on Wednesday and the issue was able to raise Rs. 2226 crore with the help of its anchor investors. The list of anchor investors includes names such as BlackRock, Government of Singapore, Abu Dhabi Investment Authority, Canada Pension Fund, HSBC, HDFC MF, Kotak MF, ICICI Prudential MF, Reliance MF, UTI MF, and…

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Multiple disruptions in the Insurance Sector, reflects report

According to a report, the insurance industry in the country is undergoing lots of disruptions. And there are projections that it will only go higher in the future. Disaggregation of the value chain is one of the major factors behind the evolution of business model and operation of insurance companies. This observation was found out by Assocham, an insurance industry…

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SBI Life Insurance Company’s IPO gets 13% subscriptions

State Bank of India’s insurance arm, SBI Life Insurance got started with its IPO. The IPO issue by the insurance company got 13% subscription or 13x. As of today, the issue stands at 8,82,00,000 shares. During the day there were bids for 1,10,52,447 shares. And in total there were bids for 79,30,503 shares at the cut-off price. So SBI Life…

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Sebi Approves New India Assurance’s IPO

As per the latest updates by SEBI, New India Assurance has received a green flag for its Initial Public Offering. New India Assurance, the state-owned non-life insurance company, which also happens to be the largest in the country in its category, had filed its draft application back in August. For any IPO “Observations” is necessary, which the company received on…

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Two state owned general insurance companies to help government raise Rs. 15000 crores

According to a couple of merchant banking sources, the government will be able to raise Rs. 15000 crores by taking two state-owned general insurance companies public. At present, there are five general insurance companies owned by the government, out of which New India Assurance (NIA) and GIC Re will be up for IPO in a few weeks’ time. By diluting…

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