SBI Funds Management IPO oversubscribed more than 20 times
SBI Funds Management's IPO is getting a lot of attention. Its anchor book has already been oversubscribed by more than 20 times, thanks to major global investors like BlackRock, Fidelity, and Goldman Sachs Asset Management.
Big sovereign wealth funds from Abu Dhabi, Singapore, and Norway are in too, making this one of the most talked-about IPOs right now.
SBI anchors allotted 51 million shares ₹2,944cr
Indian mutual funds and insurance companies are also lining up for shares.
About 51 million shares will go to anchor investors at ₹574 each, raising ₹2,944 crore ($309 million).
SBI raised another ₹1,660 crore just before the IPO through a special placement.
The total issue size is now up to ₹9,813 crore (about $1 billion), with shares priced between ₹545 and ₹574.
Mark your calendar: subscriptions open July 14-16 and listing is expected on July 21.