Nippon India Mutual Fund decreased its stake in SBI Life Insurance Company Limited from 1.14% to 1.10%, reducing its shareholding by 472,264 shares from 11,471,763 to 10,999,499. The value of shares sold is ₹83.11 Cr at ₹1761.80 apiece.
A leading life insurance provider in India, SBI Life Insurance offers comprehensive life insurance and annuity products to individual and corporate customers nationwide. The company operates as a joint venture between State Bank of India and BNP Paribas Cardif S.A., combining India's domestic banking expertise with international insurance experience. SBI Life serves millions of customers through an extensive distribution network spanning the country.
India's fifth-largest AMC with over Rs 6 lakh crore in AUM, backed by Japan's Nippon Life Insurance which holds majority stake. Formerly Reliance MF, rebranded in 2019 after Nippon's acquisition. Sailesh Raj Bhan has run the equity book for over two decades and is one of India's most experienced active managers. Known for sector rotational calls and a deep research bench.
