SBI Funds Management opens IPO July 14 to raise ₹11,600cr
SBI Funds Management, the country's biggest asset manager, is opening its IPO for subscription on Monday, July 14, and aiming to raise ₹11,600 crore.
You can apply until Wednesday, with allotment results out on July 17 and shares set to hit the BSE and NSE on July 21.
SBI Funds IPO ₹545 to ₹574
The share price is between ₹545 and ₹574. This IPO is an offer for sale: SBI and Amundi India Holding are selling about 10% of their stake (SBI offloading up to 12.83 crore shares; Amundi India Holding selling 7.54 crore).
The company's valued at nearly ₹1.17 lakh crore at the top end.
Before launch, SBI already raised ₹1,655 crore from big investors at the highest price band, and there's a strong gray market buzz with a premium of ₹108 per share, hinting at solid listing gains if demand stays high.