Canada Pension Plan Investment Board sells SBI Life Insurance shares worth Rs 2,693 cr

PTIUpdated: Thursday, September 09, 2021, 09:22 PM IST
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As many as 2.3 crore shares of the SBI Life Insurance were offloaded by the Canada Pension Plan Investment Board at a price of Rs 1,171.07 apiece/ Representational image |

Canada Pension Plan Investment Board on Thursday sold SBI Life Insurance Company's shares worth over Rs 2,693 crore through an open market transaction.

The seller is a public shareholder in the company and owned 2.86 per cent stake at the end of June quarter.

As many as 2.3 crore shares of the insurer were offloaded by the Canadian entity at a price of Rs 1,171.07 apiece. This values the transaction at Rs 2,693.46 crore, latest bulk deal data on the BSE showed.

In a separate transaction, BNP Paribas Arbitrage purchased over 96.35 lakh shares of the company for Rs 1,128.33 crore.

BNP Paribas Cardif is a promoter of the firm with 0.2 per cent, as per shareholding data for the June quarter.

On the BSE, shares of SBI Life Insurance Company declined 3.86 per cent to close at Rs 1,172.8 apiece.

According to block deal data on the BSE, Societe Generale bought shares of IndusInd Bank for Rs 72.77 crore.

Nearly 7.37 lakh shares were purchased at an average price of Rs 987.5 apiece.

Shares of the company were sold by UBS Principal Capital Asia through a separate deal.

The scrip of IndusInd Bank closed marginally higher at Rs 999.8 on the BSE.

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