New Delhi, Nov 6
State Bank of India (SBI) on Thursday announced to divest 3,20,60,000 equity shares or 6.3007 per cent of the total equity capital of SBI Funds Management Limited (SBIFML) through initial public offering (IPO).
Additionally, Amundi India Holding, the other promoter of SBIFML, will divest 1,88,30,000 equity shares, being equivalent to 3.7006 per cent of the total equity capital of SBIFML, with a total of 10.0013 per cent stake comprising 5,08,90,000 shares to be listed, according to its stock exchange filing.