SBI Funds Management IPO to open on July 14. Check details

SBI Funds Management IPO will open on July 14 as a pure offer for sale of up to 20.37 crore equity shares, representing about 10% of the paid-up equity capital. Parent SBI will sell up to 12.83 crore shares (6.3% stake) while Amundi India Holding will sell up to 7.54 crore shares (3.7%), with the company receiving no proceeds from the issue. The listing will offer investors exposure to one of India's largest asset management businesses and provide partial monetisation for SBI and a partial exit for Amundi.