SBI Life does not disappoint!

The much awaited new listing finally happened today and it did not disappoint! SBI Life which had offered shares at Rs.700/share got listed on the BSE at Rs.733.30.

This huge Rs 8,400 crore initial public offer was subscribed 3.58 times.

SBI Life, JV between SBI and France’s BNP Paribas since 2001, is India’s largest private sector life insurer, based on new business premium (NBP) of Rs. 10,146 crore for FY17.

In our very detailed analysis of the IPO we had concluded, “Marquee pedigree, unparalleled distribution reach, superior product mix and healthy growth make the company a worthy investment stock. Secondary markets being close to all-time highs and huge appetite for quality BFSI stocks, despite not-the-most-attractive issue price, the issue is a subscribe, to be held over the long term, just as any life insurance policy!”