Trading and Custodian Members of the Exchange are requested to refer to notice nos. 20190118-43 dated January 18, 2019, detailing Revised Guidelines for Bidding in Offer for Sale (OFS) Segment. The above guidelines were issued by the Exchange with reference to Securities and Exchange Board of India (SEBI) circular no. SEBI/HO/MRD/DOPI/CIR/P/2018/159 dated December 28, 2018 regarding “Review of Offer for Sale (OFS) of Shares through Stock Exchange Mechanism”.
All Market Participants are hereby informed that, State Bank of India (the “Seller”) one of the promoters of SBI Life Insurance Company Limited (the “Company”), proposes to sell up to 3,50,00,000 Equity Shares in aggregate representing 3.50% of the total issued and paid up equity share capital of the Company (“Base Offer Size”) on September 12, 2019 (“T Day”) (for non-Retail Investors only) and on September 13, 2019 (“T+1 Day”) (for Retail Investors and for Non-Retail Investors who choose to carry forward their un-allotted bids), with an option to additionally sell up to 1,00,00,000 Equity Shares (representing 1.00 % of the total issued and paid up equity share capital of the Company) (the “ Oversubscription Option’’ and in the event the Oversubscription Option is exercised, the Equity Shares forming part of the Base Offer Size and the Oversubscription Option will in aggregate be referred to as the “Sale Shares” however in the event such Oversubscription Option is not exercised, the Equity Shares forming part of the Base Offer Size will hereinafter be referred to as the “Sale Shares” , through the separate designated window of BSE Limited (the “BSE”) and the National Stock Exchange of India Limited (“NSE”, and together with the BSE, the “Stock Exchanges”), The “Comprehensive Guidelines on Offer for Sale (OFS) of Shares by Promoters through the Stock Exchange Mechanism” issued by the Securities and Exchange Board of India (“SEBI”) by way of its circular bearing no. CIR/MRD/DP/18/2012 and dated July 18, 2012, as amended by other circulars issued by SEBI from time to time, including circular bearing no. SEBI/HO/MRD/DOPI/CIR/P/2018/159 and dated December 28, 2018 (the “OFS Circular”), read with Section 21 of Chapter 1 of the “Master Circular for Stock Exchange and Clearing Corporation” issued by SEBI by way of its circular bearing no. SEBI/HO/MRD/DP/CIR/P/2016/135 and dated December 16, 2016, as amended (the “OFS Master Circular”, and together with the OFS Circular, the “SEBI OFS Circulars”), read with (a) “Revised Guidelines for Bidding in Offer for Sale (OFS) Segment” issued by BSE by way of its notice bearing no. 20190118-43 and dated January 18, 2019 and, to the extent applicable, the previous notices issued by BSE in this regard (the “Sale”).
The Floor Price for the Offer shall be Rs. 770/- (Rupees Seven Hundred and Seventy Only) per equity share.
BSE is the Designated Stock Exchange for the issue.
Market participants are further requested to note that the Exchange would disseminate the details of this Offer for Sale on BSE Website – www.bseindia.com.
Bhushan Mokashi
Additional General Manager
Listing Sales & Ops
September 11, 2019 |