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SBI Life Insurance IPO Opens on Sep 20th

SBI Life Insurance Company Ltd is entering in the capital market with an IPO of 120,000,000 Equity Shares of Rs 10 each. The price band for the issue has been fixed at Rs 685 at lower level and Rs 700 at upper level.

Company is raising up to $1.3 billion and seeking valuation of Rs 70,000 Cr. SBI is selling 8% and BNP Paribas selling 4% in SBI Life via this IPO.

Incorporated in 2000, SBI Life Insurance Company Limited is India based private life insurer. SBI Life Insurance is a joint venture between the State Bank and BNP Paribas.

The issue opens on Sep 20, 2017 and closes for subscription on Sep 22, 2017. The equity shares of the issue are proposed to be list on the Bombay Stock Exchange (BSE) and National Stock Exchange (NSE).
Is there chance of listing gain? or is this IPO for long term.. What is the GMP going on
SBI Life IPO will be one of the largest IPO in the market, so invest in it while its open. Later it is expected to trade soon. This month saw major players in the General Insurance Sector raising capital through IPO.