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India's SBI Life shares rise on trading debut after $1.3 bln IPO
October 3, 2017 / 4:36 AM / 2 months ago

India's SBI Life shares rise on trading debut after $1.3 bln IPO

MUMBAI, Oct 3 (Reuters) - SBI Life Insurance Co Ltd rose as much as 5.7 percent on its market debut on Tuesday, after its initial public offering raised $1.3 billion in India’s biggest IPO in seven years.

As of 0431 GMT, SBI Life shares were trading at 735 rupees on the National Stock Exchange, 5 percent higher than the IPO issue price of 700 rupees. (Reporting by Devidutta Tripathy and Swati Bhat; Editing by Sunil Nair)

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