SBI Life's $1.3b IPO, India's biggest in 7 years, draws strong demand

SBI Life's $1.3b IPO, India's biggest in 7 years, draws strong demand

Photo: Pradeep Gaur/ Mint

SBI Life Insurance Co Ltd’s initial public offering to raise 84 billion rupees ($1.3 billion), India’s biggest IPO in seven years, was subscribed more than 3.5 times on the closing day, strengthening the outlook for share sales in what is expected to be a record year.

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