On Thursday, Canada Pension Plan Investment Board (CPPIB) sold a 2.3 per cent stake of SBI Life Insurance Company. The shares were sold at Rs 1,171 apiece.

Canadian investment manager raised Rs 2,693 crore through the share sale. BNP Paribas picked up a 1 per cent stake, according to data disclosed on the BSE.

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Shares of SBI Life fell 3.86 per cent to Rs 1,172.8. Before the share sale, CPPIB held a 2.86 per cent stake in SBI Life.