Post-transaction, BNP Paribas Cardif's stake in SBI Life Insurance is likely to decline to 7.57 per cent from 12.77 per cent as on March 1, 2019.
Earlier, on March 1, BNP Paribas Cardif, the joint venture partner in SBI Life Insurance, had sold 9.2 per cent of its stake in the life insurance company for Rs 4,751 crore at the price of Rs 515 per share.
Of the 9.2 per cent stake sold by BNP Paribas Cardif SA, CA Emerald Investments, a part of investment firm Carlyle Group, acquired a 9 per cent stake in SBI Life Insurance in the open market through stock exchanges. The equity for this investment of the Carlyle Group came from CA Emerald Investments.
At 09:38 am, SBI Life Insurance was trading 5.4 per cent lower at Rs 584 on the BSE, as compared to 0.19 per cent rise in the S&P BSE Sensex.