SBI life Insurance, a arm of SBI, will hit the capital market on September 20 to raise up to Rs 8,400 crore. The initial share sale offer will open on September 20 and close on September 22, SBI said in a regulatory filing to the stock exchanges. This would be the 2nd listing of a life insurer after ICICI Prudential life Insurance, which went public last year. “Price band for the offer as decided by SBI life and the selling shareholders, in consultation with the lead managers, has been fixed between Rs 685 to Rs 700 per share of Rs 10 each,” a separate filing said.