SBI Funds Management IPO subscribed 1.3 times with HNIs participating
SBI Funds Management, India's top asset manager, just launched its IPO and it is already getting plenty of attention.
On opening day (Tuesday), the issue was subscribed 1.3 times, meaning demand outpaced supply right away.
High-net-worth individuals (HNIs) were especially active, with both small and big HNIs jumping in.
SBI Funds Management raises ₹1,655 cr
Before the IPO even started, SBI Funds Management raised approximately ₹1,655 crore from major investors at ₹574 per share.
The IPO price ranges from ₹545 to ₹574 per share and is fully an offer for sale by State Bank of India and Amundi India Holding.
With a massive ₹12.5 lakh crore under management (15.3% market share), SBI Funds Management is expected to see strong listing gains when shares hit the market.
The IPO closes, so if you are curious about investing or just watching the action, now is your window.