SBI Funds Management Ltd. is set to list on stock exchanges next week following its Rs 11,692 crore Initial Public Offering (IPO), which involves an Offer for Sale (OFS) of a 10 per cent stake by SBI and Amundi.
SBI Funds Management, India's largest asset management company, has set its IPO price band between 545 and Rs 574 per share, valuing the company at 1.2 trillion. The management explained the 'moderate' valuation aims to instil investor confidence amidst market uncertainty, while also highlighting plans for AI integration, expansion into GIFT City, and new alternative investment funds.
The initial public offer (IPO) of SBI Funds Management Ltd was fully subscribed on the second day of bidding, receiving bids for 1.17 times the shares on offer, with strong interest from non-institutional investors and anchor investors.
Challans worth Rs 10,298 crore were issued, but collections have been a weak 20 per cent.
The market displayed volatility during the intra-day trades on Tuesday.
590 cricketers -- including 370 Indian players and 220 overseas players -- will go under the hammer during the two-day mega auction in Bengaluru on February 12 and 13.
India's five leading wilful defaulters are Winsome Diamonds & Jewellery Ltd and associate Forever Precious Jewellery & Diamonds, Zoom Developers, Kingfisher Airlines, Beta Naphthol and Raza Textiles
'Clearly, the depositors of cooperative banks need the maximum protection.'
Ishan Bakshi studies the Budgets of six states, their expenditure priorities and outlays to understand the trend.
