State Bank of India (SBI), said it has decided to divest 3,20,60,000 equity shares, being equivalent to 6.3007% of total equity capital of SBI Funds Management Limited (SBIFML) through Initial Public Offering (IPO), subject to regulatory approvals.Amundi India Holding, the other promoter of SBIFML, will divest 1,88,30,000 equity shares, being equivalent to 3.7006% of the total equity capital of SBIFML, with a total of 10.0013% stake comprising 5,08,90,000 shares to be listed. Both the promoters of SBIFML ha ...

State Bank of India, the country’s largest lender, plans to sell a 6 per cent or 3.20 crore share in its subsidiary SBI Fund Management through Initial Public Offering (IPO).Amundi India Holding, the other promoter of SBIFML, will divest a 3.70 per cent or 1.88 crore equity shares.Both the promoters of SBIFML have jointly initiated the IPO, which will likely be completed in this year, said SBI.SBI Mutual Fund, the largest in the industry, was established in the year 1987 with SBI as the sponsor and was the ...