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BNP Paribas Cardif, one of the promoters of SBI Life Insurance Company, proposes to sell up to 2.50 crore shares through an offer-for-sale window at the exchanges on Tuesday (for non-retail investors) and on Wednesday (for retail investors).
The floor price for the offer has been fixed at ₹650 a share. This represents 2.5 per cent of the equity share capital of SBI Life Insurance (on non-diluted basis). Shareholders will closely monitor the response to the issue.
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