India's largest asset manager SBI Funds Management filed for an initial public offering, ‌where ⁠its existing ⁠investors State Bank of India and Amundi will together offload a 10% stake, its draft prospectus showed on ⁠Thursday.

India's largest asset manager SBI Funds Management files for IPO

Synopsis

India's largest asset manager SBI Funds Management filed for an initial public offering, ‌where ⁠its existing ⁠investors State Bank of India and Amundi will together offload a 10% stake, its draft prospectus showed on ⁠Thursday.

In their ‌second attempt to list the ⁠asset manager, SBI, India's largest lender, will sell a 6.3% stake, while Europe's biggest fund manager, Amundi, will sell a ‌3.7% stake.

SBI Funds Management has a market share ⁠of more than 15% and manages assets worth 12.5 trillion rupees ($134.15 billion). ($1 = 93.1810 Indian rupees)

(Catch all the Mutual Fund News, Breaking News, Budget 2024 Events and Latest News Updates on The Economic Times.)

Subscribe to The Economic Times Prime and read the ET ePaper online.

...moreless

(Catch all the Mutual Fund News, Breaking News, Budget 2024 Events and Latest News Updates on The Economic Times.)

Subscribe to The Economic Times Prime and read the ET ePaper online.

...moreless

HDFC Bank chair exit: Widening rift or a new beginning?

HDFC Bank seeks to rebuild trust, the biggest currency in banking

Small- or large-cap stocks: What should you bet on as markets fall?

Looking for a job? This city has plenty, few takers

Inside Akasa’s big plans: CEO Dube on profits, fleet orders and why 2032 isn’t the end

Beyond biscuits: ‘Forgotten brands’ power Britannia’s rise amid FMCG fall