SBI Sells 1.42% Stake in SBI Funds Management Ahead of ₹11,600 Crore IPO
State Bank of India (SBI) has sold a 1.42% stake in its asset management arm, SBI Funds Management Ltd (SBIFM), to 30 investors for ₹1,655 crore ahead of its ₹11,600 crore IPO. The sale is part of the pre-IPO placement and the IPO is set to open on July 14.