SBI Funds IPO subscribed 2.77 times on Day 2; NII segment leads demand

The initial public offering of SBI Funds Management was subscribed 2.77 times on Day 2 of bidding, led by strong demand from the non-institutional investor segment. The robust subscription reflects healthy investor appetite for the asset management company, which is a joint venture between State Bank of India and Amundi. The IPO is being closely watched as a key listing in the Indian asset management sector.