SBI Funds' ESOPs mint fortunes for top executives

SBI Funds Management listed on the NSE at a 6.3 percent premium over its issue price of Rs 574, closing at Rs 610.15 on debut day. Top executives including joint CEO Devinder Pal Singh and CIO Srinivasan Rama Iyer hold shares worth over Rs 100 crore each through ESOPs allotted since 2018 at prices ranging from Rs 38.75 to Rs 455. The article highlights how listed mutual fund houses are increasingly using ESOPs as retention tools for senior talent amid industry expansion.