SBI Funds Management Files IPO Papers, Promoters to Sell 20.37 Crore Shares via Offer for Sale
SBI Funds Management Files for Maiden IPO
State Bank of India and Amundi-promoted SBI Funds Management, one of India's largest asset management companies, has filed preliminary papers with the Securities and Exchange Board of India (SEBI) on March 19 to raise funds via a maiden public issue.
The initial public offering (IPO) will comprise a sole offer-for-sale of 20.37 crore equity shares, with no fresh issue component. The promoters, State Bank of India and Amundi India Holding, will be offloading 12.83 crore shares and 7.53 crore shares, respectively, via the offer-for-sale.
The large IPO is being managed by a team of merchant bankers, including Kotak Mahindra Capital Company, Axis Capital, BofA Securities India, HSBC Securities and Capital Markets (India), ICICI Securities, Jefferies India, JM Financial, Motilal Oswal Investment Advisors, and SBI Capital Markets.
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Investor Takeaway
Investors should be aware of the upcoming IPO of SBI Funds Management and its potential market impact.
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