SBI Life plans IPO in 2009

SBI Life Insurance Company may come out with an IPO in the year 2009, depending on market conditions and possible changes in the Insurance Bill.
Though SBI Life meets the criteria for listing its company, the decision on whether to list or not would depend on market conditions and also on an amendment in Insurance Bill, SBI Life CEO US Roy said.
“We need to wait for the Insurance Bill to be passed and, accordingly, we will take a call. But we are preparing ourselves. If regulatory issues are solved and the market recovers, we might go in for listing in 2009,” he said.
According to the Insurance Act 1938, insurance firms who have completed 10 years of operation in India can get listed in the stock market. However, the company needs to be making profits for three consecutive years.


SATISH CHANDRA
PGDM III SEM
SEC A