SBI Funds Management is preparing to launch an initial public offering in the week starting July 13, with the offering potentially raising up to $1.2 billion, according to people familiar with the matter. The sale is framed as a demand test for India’s IPO market ahead of a period expected to include several large, billion-dollar listings. Separately, NDTV reports that SBI Funds plans to seek a valuation of between ₹1.15 trillion ($12.1 billion) and ₹1.20 trillion ($12.1 billion to $12.1 billion range reported), which is below an earlier target. The revised valuation range implies the company has moderated expectations compared with previous plans of seeking a valuation in the neighborhood of $14 billion to $15 billion. While details such as the final pricing and share allocation are not specified in the available reports, both outlets characterize the move as an upcoming major public-market event for India’s largest asset manager and a near-term benchmark for investor appetite.
SBI Funds to launch up to $1.2 billion IPO in July, valuing company between ₹1.15-1.20 trillion
SBI Funds Management is preparing to launch an initial public offering in the week starting July 13, with the offering potentially raising up to $1.2 billion, according to people familiar with the mat...
- SBI Funds Management plans to launch an IPO in the week starting July 13.
- The IPO is expected to raise up to $1.2 billion, per people familiar with the matter.
- The company seeks a valuation range of ₹1.15 trillion to ₹1.20 trillion, according to NDTV.
- This proposed valuation is lower than an earlier target described as around $14 billion to $15 billion.
- The IPO timing is positioned as a test of investor demand ahead of other large IPOs in India.
The country's largest asset manager plans to seek a valuation of 1.15 trillion rupees ($12.1 billion) to 1.20 trillion rupees, lower than the $14 billion to $15 billion planned previously.
1 month agoSBI Funds Management Ltd. is set to launch its initial public offering, which could raise up to $1.2 billion, in the week starting July 13, according to people familiar with the matter, testing investor demand ahead of a busy pipeline of billion-dollar listings in India.
1 month ago
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