State-run Bank of India Ltd on Friday offered to sell a 25% stake in its joint venture company with Union Bank Of India Ltd and Japan’s Dai-ichi Life Holdings Inc for up to ₹1,106 crore.
Bank of India is looking to sell 64.9 million shares, or 25.02% stake, in Star Union Dai-ichi Life Insurance Co Ltd at a floor price of ₹170.50 per share, it said in a filing.
Bank of India has a 28.96% stake in the joint venture, while Union Bank of India and Dai-ichi Life owns 25.10% and 45.94%, respectively.
Source: Mint