Carlyle Group exits SBI Life Insurance

Private equity firm Carlyle Group has exited SBI Life Insurance Company by selling its 1.9 per cent shareholding in the firm through open market transactions. The total deal value stood at ₹2,147 crore.

As per the BSE’s block deal data for Thursday, Carlyle Group, through its entity CA Emerald Investments, sold a total of 1.9 crore shares at an average price of ₹1,130 apiece. SBI Life Insurance Company’s shareholding data for the June 2021 quarter showed that CA Emerald Investments was its public shareholder and held 1.9 per cent stake in the firm. Separately, the shares were picked up by Max Life Insurance Company, Morgan Stanley Asia Singapore Pte, HDFC Standard Life Insurance, BNP Paribas Arbitrage, Bofa Securities Europe SA, Societe Generale, Integrated Core Strategies (Asia) Pte.

Also read: CCI green signals Carlyle Group-led ₹4,000 cr investment in PNB Housing

The shares were also picked up by a host of mutual funds including Kotak Mahindra Mutual Fund, Pioneer Investment Fund, Nippon Indian Mutual Fund, Franklin Templeton Mutual Fund, SBI Mutual Fund and ICICI Prudential Mutual Fund, among others.

On the BSE, shares of SBI Life Insurance Company closed up 1.42 per cent at ₹1,151, on Friday..

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