SBI Life IPO
SBI Life IPO — date, price band, lot size & details 2017
SBI Life listed on 3 Oct 2017 at ₹735, 5% above the ₹700 issue price.
SBI Life Insurance is a private life insurer and a joint venture between State Bank of India and BNP Paribas Cardif. Its profit after tax was Rs 954.65 crore in FY2017.
Stock price
SBI Life is listed — here is the live share price.
Researched & reviewed by
Abhishek Vohera,
Founder, IPO Guru
Last updated
Figures sourced from the RHP, BSE & NSE
Timetable
Key dates from opening to listing. Today is 12 November.
- Open 20 Sep 2017
- Close 22 Sep 2017
- Allotment 27 Sep 2017
- Refund/credit 28 Sep 2017
- Listing 03 Oct 2017
Issue summary
The terms of the offer, as filed.
| IPO Dates | 20 to 22 Sep, 2017 |
|---|---|
| Price Band | ₹685 – ₹700 |
| Face Value | ₹10 |
| Lot Size | 21 Shares |
| Issue Size | ₹8388.73 Cr |
| Sale Type | OFS only |
| Listing On | BSE, NSE |
| Employee Discount | Rs 68.00 per share |
| Registrar | KFin Technologies Limited |
| Min Investment | ₹ 14,700 |
Share of the offer set aside for each investor category, as stated in the offer document.
What will it cost me?
Bidding is in multiples of 21 shares at the ₹700 cut-off. Drag to size your application.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (min) | 1 | 21 | ₹14,700 |
| Retail (max) | 13 | 273 | ₹1,91,100 |
| S-HNI (min) | 14 | 294 | ₹2,05,800 |
| S-HNI (max) | 68 | 1,428 | ₹9,99,600 |
| B-HNI (min) | 69 | 1,449 | ₹10,14,300 |
Strengths & risks
Drawn from the offer document — the case for and against, side by side.
Strengths · 4
- 01Profit after tax rose from Rs 814.87 crore in FY2015 to Rs 954.65 crore in FY2017.
- 02Total assets grew from Rs 72,236.60 crore in FY2015 to Rs 1,02,410.50 crore on 30 June 2017.
- 03Net worth rose from Rs 4,056.34 crore in FY2015 to Rs 5,878.80 crore on 30 June 2017.
- 04It sells through State Bank of India, the largest bank in India, and is backed by BNP Paribas Cardif, active in 36 jurisdictions.
Risks · 5
- 01Its sales depend heavily on its parent's branch network; profit was Rs 313.45 crore in the June 2017 quarter.
- 02Insurance rules on charges and commissions are set by IRDAI and can change; profit was Rs 844.10 crore in FY2016.
- 03Policy sales linked to markets can fall when markets are weak; total assets were Rs 99,225.25 crore in FY2017.
- 04The whole Rs 8,388.73 crore issue was an offer for sale, so none of it went to the company.
- 05The promoters held 96.1% before the issue and 84.1% after it.
Three years of numbers
All figures in ₹ crore, as reported in the SBI Life offer document.
| Metric | 30 Jun 2017 | 31 Mar 2017 | 31 Mar 2016 | 31 Mar 2015 |
|---|---|---|---|---|
| Assets | 1,02,410.50 | 99,225.25 | 80,724.56 | 72,236.60 |
| Profit After Tax | 313.45 | 954.65 | 844.10 | 814.87 |
| NET Worth | 5,878.80 | 5,552.08 | 4,733.10 | 4,056.34 |
| Reserves and Surplus | 4,778.23 | 4,464.78 | 3,690.67 | 2,990.99 |
See how this IPO compares — view listing performance of all mainboard IPOs.
Where the money goes
How the company intends to use the proceeds of the issue.
Information about the usage of proceeds from the SBI Life IPO will be updated shortly.
About the company
State Bank of India is India's largest commercial bank.
BNP Paribas Cardif, the insurance arm of BNP Paribas, operates across 36 jurisdictions and is among the leading credit life insurers globally.
The IPO was Rs 8,388.73 crore and was entirely an offer for sale at Rs 700, the top of the Rs 685 to Rs 700 band, so the company received no money.
Interested in this IPO? Check the live subscription status or browse all upcoming mainboard IPOs.
The bankers & the filings
Who is running the book, and the documents this page is built from.
SBI Life IPO Documents
Read the filings this page is built from.
Lead Manager Track Record
How the book-running lead managers on this issue have priced their past IPOs, measured on listing day.
JM Financial Ltd.
194 issues handledBest listing: Tata Technologies (+140.0%). Weakest: ACME Solar Holdings (-13.1%).
SBI Capital Markets Ltd.
141 issues handledBest listing: Bajaj Housing Finance (+114.3%). Weakest: ICICI Securities (-16.3%).
Axis Capital
260 issues handledBest listing: Latent View Analytics (+160.0%). Weakest: Shriram Properties (-23.7%).
ICICI Securities
221 issues handledBest listing: Latent View Analytics (+160.0%). Weakest: Bannari Amman Spinning Mills (-25.2%).
Kotak Mahindra Capital Company Limited
204 issues handledBest listing: Premier Energies (+120.0%). Weakest: Puravankara Projects (-22.5%).
Citigroup Global Markets India Pvt. Ltd
74 issues handledBest listing: Tata Technologies (+140.0%). Weakest: Puravankara Projects (-22.5%).
BNP Paribas
10 issues handledBest listing: DOMS Industries (+77.2%). Weakest: Carraro India (-7.5%).
Deutsche Equities India Pvt. Ltd
14 issues handledBest listing: Reliance Petroleum (+66.6%). Weakest: Adlabs Entertainment (-9.9%).
Listing gain compares the listing-day opening price with the issue price, using the IPOs on IPO Guru that this lead manager has taken to market. A strong record reflects how the banker has priced past issues — it is not a forecast for this one. See every issue they have handled on the lead managers page.
Company contact
Frequently asked
What is the GMP of SBI Life?
The current Grey Market Premium is ₹17.5, or 2% over the issue price.
What is the SBI Life IPO price band?
₹685 to ₹700, on a face value of ₹10.
When is the allotment?
The basis of allotment is 27 September 2017, with listing on 3 October 2017.
How do I check allotment status?
On the IPO Guru allotment page or on the registrar's site — KFin Technologies Limited.
Every number here traces back to a filing.
IPO Guru tracks GMP, subscription and allotment for every Mainboard and SME issue. Every number on this page is sourced from the RHP, BSE & NSE.
Not investment advice. Grey market premium is an unofficial, unregulated indicator and is not a forecast.
