SBI Life files for Initial Public Offering, bankers say it may raise over Rs 6,400 crore
Danish Siddiqui/Reuters

SBI Life Insurance Co Ltd, a unit of the State Bank of India, on Monday filed for an Initial Public Offering of shares, reported Reuters. SBI will sell up to 8% or 80 million shares of its 70% stake in SBI Life, while BNP Paribas Cardiff will sell up to 4% or 40 million shares of its 26% stake in the unit. An IPO is the first time…