As It Plots IPO, SBI General To Focus On Home, Health And Small Businesses
SBI General Insurance Company Ltd. will focus on its portfolio of insuring home, retail health and small and medium businesses.
SBI General Insurance Company Ltd. will focus on its portfolio of home, retail health and small and medium business insurance as it plans to launch its initial public offer within the next 15-18 months.
“I’m well placed over the leading players as far as operating metrics and growth are concerned,” Pushan Mahapatra, managing director and chief executive officer of the insurance company told BloombergQuint in an interview. The insurer’s valuation, he said, is comparable with the best listed companies.
At a current valuation of Rs 12,000 crore, based on the 4 percent stake sale approved by its parent State Bank of India, the insurer is priced at nearly 78 times its annualised earnings per share as of March 31, 2017.
That’s comparable with price-earnings multiple of 73.8 for listed peer ICICI Lombard General Insurance, India’s largest private general insurer.