Ongoing discussions on the price at which State Bank of India (SBI) will divest 10 per cent stake in SBI Life Insurance Company to joint venture partner, BNP Paribas Cardif of France, are likely to be completed by December. “The discussion [between the promoters] began in April…now the valuation process is underway,” SBI Life Insurance MD and CEO Arijit Basu said, adding the transaction will happen by March. Though the promoters are in agreement to list SBI Life, any further decision will be taken only after the stake sale, he told presspersons in Hyderabad on Monday. BNP Paribas Cardif holds 26 per cent stake in the insurance firm and the rest is with SBI. The Centre had this March approved hike in foreign investment limit in insurance companies from 26 to 49 per cent. To other queries, Mr. Basu in the city for a mega sales conclave organised by the Hyderabad Region, said by early December SBI Life will launch a product for women.
