SBI Life Insurance ends at Rs 708, up 1% against its IPO price

The stock listed at Rs 735, a 5% premium against its initial public offer price of Rs 700 per share on the National Stock Exchange.

SBI Life Insurance Company made a quite debut by listing at Rs 735, a 5% premium against its initial public offer (IPO) price of Rs 700 per share on the National Stock Exchange (NSE).

The stock was ended at Rs 708 on the BSE, 1% higher that issue price and down 3% from its open price. It hit a high of Rs 740 and low of Rs 702 so far. A combined 11.5 million shares exchanged hands on the NSE and BSE.

The company’s Rs 8,400 crore IPO was subscribed 3.587 times. The portion meant for qualified institutional