Canda Pension Plan Investment Board (CPPIB) on Tuesday sold 0.56% of SBI Life Insurance shares for Rs 597 crore.
It sold 5.58 million shares at Rs 1068.35 each. Buyers included the Aditya Birla Sun Life Mutual Fund, Avendus, ICICI Prudential MF, Singapore’s GIC and Goldman Sachs.
SBI Life shares closed at 1,101 rupees, up 2 per cent from the previous day’s close.
Last week, CPPIB sold Rs 6,800 crore shares in Kotak Mahindra Bank. Market hype that a major Canadian investment firm was looking to liquidate its holdings in a few Indian companies.
Business Standard has always strived to provide the latest information and commentary on developments that matter to you and that have broader political and economic implications for the country and the world. Your continued encouragement and feedback on how we can improve our offerings has made our determination and our commitment to these ideals even stronger. Even during these challenging times brought about by Covid-19, we continue our commitment to keeping you updated with trusted news, authoritative opinions and insightful commentary on relevant topical issues.
However, we have a request.
As we battle the economic impact of the pandemic, we need your support even more, so we can continue to bring you more quality content. Our subscription form has seen an encouraging response from many of you, who have subscribed to our content online. Further subscribing to our online content can only help us achieve our goals of providing better and more relevant content. We believe in free, fair and credible journalism. Your support with more subscriptions can help us practice the journalism we are committed to.
Support quality press and Subscribe to Business Standard.