SBI Funds Management secures Rs 2,663 cr from anchor investors; IPO opens Tuesday

NEW DELHI: (Jul 14) SBI Funds Management has raised Rs 2,663 crore from anchor investors with the issue attracting strong participation from global and domestic institutional investors.

The company’s Rs 9,795-crore initial public offering (IPO) opens for subscription on Tuesday.

The asset management firm allocated 4,63,93,095 equity shares to 129 funds at Rs 574 per share, the upper end the upper end of the price band, according to a stock exchange filing issued late on Monday.