Mumbai, July 18 (IANS) State Bank of India on Monday said that its subsidiary SBI Life Insurance Company has filed a draft red herring prospectus with Sebi for an initial public offering.

According to a regulatory filing made to the BSE, the state-run bank said that the IPO will offer up to 12 crore equity shares of face value of Rs 10 each.

This is published unedited from the IANS feed.