 "SBI")
SBI Life Insurance Company’s Rs 1,500-crore offer for sale (OFS) garnered more than two times subscription. Total bids exceeded 38.6 million for the 18.9 million shares put on the block for institutional investors. Another 2.1 million shares meant for retail investors will be auctioned on Monday.
The floor price for the share sale was fixed at Rs 725 per share. However, most bids came at Rs 741 per share, data provided by the BSE showed. Meanwhile, shares of SBI Life ended at Rs 751, up 1.3 per cent over its previous close.
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