SBI Life IPO looks attractive, are you guys applying for?

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SBI Life’s embedded value has grown by 32% to Rs16,538 crore for FY17. vs its closest rival ICICI Prudential Life Insurance Co. Ltd has grown 16.1% for the same period.

About SBI Life
SBI Life a joint venture between SBI and global insurance company BNP Paribas Cardif. SBI Life Life is the fastest growing private sector life insurer in India in terms of New Business Premium (NBP) generated in each fiscal year, since FY10. During FY15‐17, its NBP witnessed a CAGR of 35.5%, which is the highest among the top five private life insurers.
In FY17, SBI Life enjoyed a market share of Individual Rated Premium (IRP) of 20.7% among private life insurers and 11.2% of the entire life insurance industry.

In numbers




SBI Life has over the years developed one of the largest multi‐channel distribution networks among private life insurers in India, with the largest bancassurance channel, including with State Bank, the largest bancassurance partner in India.

India is still massively underinsured and is a lucrative market. There is significant scope for growth. India’s life insurance penetration at 2.7%, is lower than its comparable Asian peers such as Thailand, Singapore and South Korea where the life insurance penetration is at 3.7%, 5.5% and 7.4% as of 2015. The protection gap for India was the highest among all the countries in Asia Pacific at 92% as of 2014, This shows the absence or inadequate pure protection coverage (term insurance) for a large part of the Indian population.

Issue details
IPO size: Rs.8400 crores
Face value: Rs.10
Retail portion: 35%
Lot size: 21 shares and in multiples thereafter
Maximum subscription amount: Rs.2,00,000
Listing on: both NSE and BSE

IPO schedule
Basis of Allotment: September 27
Refund of application amount: September 28
Credit of shares to demat accounts: September 29
Listing: October 3

To apply for the SBI IPO using your Zerodha DP ID follow these steps

Keep track of all the upcoming IPOs here

Allotment details can be checked here

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