SBI Funds Management IPO opens July 14 with ₹545-₹574 pricing
Business
SBI Funds Management, India's biggest asset manager, is launching its IPO from July 14 to 16, with shares priced at ₹545-₹574 each.
The offer includes over 20 crore shares being sold by SBI and Amundi.
If you're thinking of applying, retail investors can start with just 26 shares.
SBI Funds gray market premium ₹89
The IPO has a gray-market premium of ₹89 per share, so there's talk of a possible 16% pop when it lists on July 21.
There are reserved shares for SBI shareholders and employees (who get a ₹54 discount per share).
SBI Funds already raised ₹1,655 crore from big investors before the IPO.