BNP Paribas Cardif offloads 5 pc stake in SBI Life via open market sale

BNP Paribas Cardif offloads 5 pc stake in SBI Life via open market sale

New Delhi:

The French insurer held a 5.20 per cent stake in SBI Life before selling a major part of its stake in the company.

In a disclosure to exchanges, SBI Life said the foreign promoter of the company has sold 4.99 per cent, equivalent to 5,00,03,480 equity shares on March 12, 2021, through the open market process.

The remaining equity of BNP Paribas Cardif now stands at 0.20 per cent, representing 20,03,612 equity shares of SBI Life.

In June 2019, BNP Paribas Cardif (BNPPC) had sold 2.5 crore shares in the insurer, equivalent to 2.5 per cent, in an offer for sale process for Rs 1,702…

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