SBI to divest 6.3% stake in SBI MF via IPO
market hours1 source ↓written by the desknot a recommendation
- of its stake
- 6.3%
- pending regulatory approvals
- 3,20,60,000 equity shares
- including AMUNDI India's
- 3.7%
- of SBIMF's equity
- 10.0013%
State Bank of India (SBI) plans to divest 6.3% of its stake in SBI Funds Management (SBIMF) through an initial public offering (IPO). This involves selling 3,20,60,000 equity shares pending regulatory approvals. The total stake offered, including AMUNDI India's 3.7%, will amount to 10.0013% of SBIMF's equity capital.
This move marks SBI's third subsidiary to go public, potentially enhancing liquidity and investor interest in the mutual funds sector. 📈
Not investment advice. For informational purposes only.