GIC, Temasek unit said to be among anchor buyers of SBI Life's IPO in India

SINGAPORE (Sept 20): SBI Life Insurance, a joint venture between State Bank of India and BNP Paribas Cardiff, is said to have received strong initial responses to the launch of its initial public offering (IPO) today.

Singapore’s sovereign wealth fund GIC bought about 1.6 million shares, out of the 31.8 million shares sold by SBI Life Insurance at INR 700 ($14.60) each to a total of 69 anchor investors, according to Dow Jones Newswires. 

Aranda Investments, a subsidiary of Temasek Holdings, bought 1.4 million shares.

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