SBI Life picks up 10 pc stake in Bima Sugam India Federation
New Delhi, December 30,2024.
SBI Life on Monday said its board has approved picking up of 10 per cent stake in Bima Sugam India Federation for Rs 6.6 crore.
Bima Sugam India Federation, an unlisted company, incorporated on June 18, 2024, aims to create and operate a centralised marketplace of insurance products and services.
The board in its meeting approved an aggregate investment in Bima Sugam not exceeding 10 per cent of the paid-up equity share capital of Bima Sugam, for cash, at par, subject to commensurate increase in the authorised share capital of Bima Sugam, SBI Life said in a regulatory filing.
