India welcomes it's 1st $1 Billion IPO | Do you know what is an IPO?

The Rs 8,400 crore initial public offering(IPO) of SBI life has been recently launched.The joint venture between SBI and BNP Paribas Cardif, gave birth to SBI life which would offer a discount of Rs 68 per share on the offer price to eligible employees.
IPO India
Courtesy-livemint

SBI Life is India’s largest private life insurer in terms of NBP generated in each financial year since FY2010 and has a portfolio of 29 individual and eight group products. NBP for an insurance company is the premium it earns from new contracts in a given financial year, including the single premium for that year, the first year premium on regular premium policies written in that year, and from those written in previous years.

SBI life
Courtesy-www.sbilife.co.in
SBI Life distributes its products through 24,000 SBI bank branches in addition to 8,500 branches of other banks. The company reported highest new business premium (NBP growth) of 42.8 per cent in FY17, compared with 22.9 per cent average growth for private peers.

 SBI life was founded in March 2001 and now it is one of the most biggest insurance companies in India.Mr. Arijit Basu, is the present MD & CEO of the company.The company has 7,335 on-roll employees and 96,000 agents across India.

What is an Initial Public Offering (IPO)?
initial public offering is a offering in which the stock of a private company is offered to the public. IPOs are often issued by small, new companies seeking capital to expand, but they can also be done by large privately owned companies looking to become publicly traded. In an IPO, the issuer obtains the assistance of an underwriting firm, which helps determine what type of security to issue, the best offering price, the amount of shares to be issued and the time to bring it to market.

Source-Investopedia,Economictimes

India welcomes it's 1st $1 Billion IPO | Do you know what is an IPO? India welcomes it's 1st $1 Billion IPO | Do you know what is an IPO? Reviewed by Saurabh Jadhav on October 03, 2017 Rating: 5
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