InvestorQ : Why is SBI planning to sell a further stake in SBI Life?
Arya Nanda made post

Why is SBI planning to sell a further stake in SBI Life?

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Deepa Salunkhe answered.
4 months ago
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SBI has approved the sale of 2.10 crore equity shares constituting 2.1% stake in SBI Life with view to taking its stake to the statutory requirement of 25%. SBI Life is a JV between SBI and BNP Paribas. Apart from the statutory requirement to reduce the stake of the promoter to 25% for listed stocks on the stock exchange, SBI is also looking to monetize some of its stake in its subsidiaries in the current market to create a war chest for the challenges likely in the post-COVID scenario.

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