Promoters SBI and BNP Paribas Cardiff seek to garner Rs5,600 crore and Rs2,400 crore, respectively, from the SBI Life Insurance IPO, the price band of which is set at Rs685-700 apiece. That of its closest rival ICICI Prudential Life Insurance Co. Ltd has grown 16.1% for the same period. SBI Life has indeed beaten its peers at growth metrics, not just in the past fiscal year but for three years in a row. SBI Life also has access to the largest branch network in the country due to its promoter, besides having a strong agency network. SBI Life is valued at four times estimated embedded value for FY18, just a shade higher than that of ICICI Prudential Life Insurance.

Source: Mint September 15, 2017 01:52 UTC