SBI Funds Management Reserves 1.3 Crore Shares for Eligible SBI Holders in July 14 Offer

The asset manager's offer-for-sale of up to 203.7 million shares opens next week with a dedicated quota for the parent bank's shareholders.

SBI Funds Management has set aside 1.3 crore shares for eligible shareholders of State Bank of India in the offer-for-sale that begins July 14. The reservation forms part of a larger filing that lists up to 203.7 million shares for public subscription. The structure follows the red herring prospectus lodged on July 9 by SBI and its partner Amundi India Holding.

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