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BNP Paribas Cardif has sold 4.99 per cent stake in SBI Life Insurance amounting to a little over 5 crore shares.
The French insurer now holds 0.2 per cent stake in the private sector life insurer. The share sale was in the open market, SBI Life Insurance said in a regulatory filing on Friday. Prior to the share sale, BNP Paribas Cardif held 5.2 per cent stake in the life insurer.
Previously, in June 2019, BNP Paribas Cardif had sold 2.5 crore shares in the insurer, amounting to 2.5 per cent stake through an offer for sale that fetched ₹1,702 crore.
On Friday, SBI Life scrip closed 2.78 per cent lower at ₹913.9 apiece on the BSE.
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