Value Line sells SBI Life Insurance shares worth Rs 504 cr

Value Line Pte Ltd, an affiliate of KKR Asian Fund, on Wednesday offloaded 65 lakh shares of SBI Life Insurance for about Rs 504 crore through open market transactions. According to data available with the NSE, Value Line sold 65,00,000 shares for an estimated Rs 503.78 crore with the average price being Rs 775.06 per scrip.

The buyer, however, could not be ascertained immediately. According to the shareholding pattern available on the NSE, at the end of June quarter, Value Line held 1.95 per cent stake or 1.95 crore shares in SBI Life Insurance.

Shares of SBI Life Insurance Wednesday ended at Rs 767.10 apiece on the NSE, down 1.14 per cent.