12 September 2018

In order to comply with the 25% Minimum Public Shareholding Indian regulatory requirement, BNP Paribas Cardif may reduce its stake in SBI Life Insurance Company Limited in the next quarters. 

In this context, BNP Paribas Cardif is in discussion with BNP Paribas, Citigroup Global Markets India Private Limited and Kotak Mahindra Capital Company Limited as advisors.  

No firm decision has been made regarding the size, timing or nature of such reduction in stake. 

The information contained herein is not for publication or distribution, directly or indirectly, in or into the United States.  The information contained herein does not constitute an offer of securities for sale, or solicitation of an offer to purchase securities, in the United States or any other jurisdiction where such an offer or solicitation would be unlawful. The securities referred to herein have not been and will not be registered under the U.S. Securities Act of 1933 (the “Securities Act”), and may not be offered or sold in the United States absent registration or an exemption from registration as provided in the Securities Act and the rules and regulations thereunder. There is no intention to register any portion of the offering in the United States or to conduct a public offering of securities in the United States.

The information herein does not constitute an offer to sell or an invitation or solicitation of an offer to buy, to the public, or to any class of persons requiring any prospectus or offer document to be issued, submitted or filed with any regulatory authority in India.