Names include founder Vijay Shekhar Sharma’s brother Ajay Shekhar Sharma, Ripunjai Gaur, and Abhay Sharma, who are elevated to CBO over the last month from senior vice-president positions, consistent with their Linkedin profile
One97 Communications, which owns brand Paytm, has elevated a minimum of four personnel to the position of chief business officer (CBO) of its various verticals, before its much-awaited November-listing.
According to terms of the deal obtained by Bloomberg, the Canada pension account Investment Board (CPPIB) planned to dump 2 per cent stake in SBI life assurance Company on Thursday. The shares were to be offered within the range between Rs 1,159 and Rs 1,220 per share. At the highest end, the share sale would fetch Rs 2,440 crore, the report suggested. The names of the buyers, however, couldn’t be ascertained immediately.
As of June 30, 2021, the Canadian investment manager held 28.58 million, or 2.86 per cent stake, within the SBI life assurance , the shareholding pattern data shows.
Earlier, on August 5, 2021, US private equity fund CA Emerald Investments, an affiliate of Carlyle Asia Partners, offloaded its entire 1.9 per cent stake within the company via multiple block deals.
State Bank of India (SBI), the promoter of the corporate holds 55.5 per cent stake in SBI Life. Among public shareholders, the govt of Singapore owns 2.69 per cent stake, followed by Carlyle (1.9 per cent) and ICICI Prudential life assurance (1.36 per cent).
The stock of SBI Life had hit a record high of Rs 1,254 on September 3, 2021. within the past three months, the stock has outperformed the market by surging nearly 20 per cent, as compared to a 12 per cent rise within the S&P BSE Sensex.
SBI Life reported healthy growth in value of latest business (VNB) in April-June quarter (Q1FY22), up 45 per cent year on year (YoY) (but down 61 per cent quarter on quarter) to Rs 340 crore. Annualized premium equivalent (APE) grew 27 per cent YoY to Rs 1,620 crore. AUM growth was also healthy at 32 per cent YoY to Rs 2.3 trillion.
Further, in NBP, SBI Life maintained leadership among private players with an 18.9 per cent market share. “We still like SBI Life, considering the gradual shift to a profitable product mix, relatively comfortable valuations, steady growth and favorable risk-reward,” analysts at Emkay Global Financial Services had said during a result update.