Tuesday, March 04, 2025 | 08:18 AM ISTहिंदी में पढें
Business Standard
Notification Icon
userprofile IconSearch

BNP Paribas Cardif to offload 2.5% stake in SBI Life for Rs 1,625 crore

In March, BNP Paribas had sold 5 per cent and 9.2 per cent for Rs 2,889 crore and Rs 4,751 crore, respectively, in the life insurer

The logo of BNP Paribas bank is pictured on an office building in Nantes, France. Photo: Reuters
Premium

Subrata Panda
BNP Paribas Cardif, the joint venture partner in private life insurance company SBI Life, will offload 2.5 per cent equity stake in the life insurance company for about Rs 1,625 crore. This will be done through an offer for sale (OFS) on the bourses for Rs 650 apiece. The OFS will take place in two trading days. At present, BNP Paribas Cardif holds a 7.7 per cent equity stake in the life insurer. After the deal, BNP Paribas Cardif ‘s stake in SBI Life will be reduced to 5.2 per cent.  In March, BNP Paribas had sold 5 per cent

What you get on BS Premium?

  • Unlock 30+ premium stories daily hand-picked by our editors, across devices on browser and app.
  • Pick your 5 favourite companies, get a daily email with all news updates on them.
  • Full access to our intuitive epaper - clip, save, share articles from any device; newspaper archives from 2006.
  • Preferential invites to Business Standard events.
  • Curated newsletters on markets, personal finance, policy & politics, start-ups, technology, and more.
VIEW ALL FAQs

Need More Information - write to us at assist@bsmail.in