The shares of India’s largest asset management company, listed at Rs 613.30 on BSE, when compared to Rs 574.
The initial public offering comprised of an offer for sale of 99,501,649 shares or 4.88% in SBI Funds Management by State Bank of India and 71,454,982 shares or 3.5 per cent by Amundi India Holding. The issue was subscribed 41.66 times. The shares were listed on BSE and NSE.
“The listing of SBI Funds Management marks a defining milestone in the Company’s journey and reflects the trust that millions of investors have placed in us over the years,” Challa Sreenivasulu Setty, Chairman, State Bank of India, and Chairman, SBI Funds Management, said in a statement.
“I am convinced that the IPO of SBI Funds is a major milestone and will support the company’s growth ambitions as it enters a new phase of expansion. As long-term shareholders, we are fully committed to contributing to this growth, and our partnership with SBI will remain central to the future development of SBI Funds Management Ltd,” Valérie Baudson, Chief Executive Officer of Amundi, said.
The shares closed at Rs 609 at BSE.
