SBI Said It Will Raise Up To Rs 3,465 Crore By Offloading Up To 4.5 Percent

SBI said it will raise up to Rs 3,465 crore by offloading up to 4.5 percent stake in SBI Life Insurance Co to bring down the promoter shareholding as per regulatory norms.

The share sale process consists of a base issue of selling up to 3.5 percent with an option to additionally sell up to 1 percent of the total issued and paid up equity share of SBI Life.

The floor price for the share sale has been fixed at Rs 770 per equity share.

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