India's SBI Life makes modest debut after high IPO valuations
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Mumbai
SBI Life Insurance Co Ltd made just modest gains in its trading debut on Tuesday after its IPO - India's biggest in seven years - raised US$1.3 billion at valuations widely viewed as steep.
Although India could notch up a record-setting year for IPOs with almost US$6 billion in deals done so far in 2017, concerns about high valuations have started to emerge with the stock market starting to pull back after a string of record highs.
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