SBI Life holds beauty parade for IPO

The joint venture between State Bank of India and BNP Paribas Cardif meets investment bankers for what is set to be the second listing of a private sector insurer.

Senior management of India’s SBI Life Insurance is meeting investment banks this week to select joint bookrunning lead managers for a proposed flotation in the second half of this year, according to sources familiar with the situation. 

The beauty parade is taking place two weeks after the life insurer sent out request for proposals to potential deal managers, according to the sources.

At the same time, the insurer is seeking approvals from both the Insurance Regulatory and Development Authority IRDA and the Securities and Exchange Board of India.

SBI Life Insurance was founded in 2001 under a bancassurance partnership between State Bank...

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