Canadian Pension Fund sells 0.56% of SBI Life shares for Rs 597 crore

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.

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