SBI Funds Management raised ₹1,655 crore from 30 investors in a pre-IPO placement, selling 2.88 crore shares at ₹574 apiece ahead of its ₹11,692.91-crore issue.
The IPO is a pure offer for sale: no fresh issue, so the company gets zero proceeds; all the money goes to selling shareholders.
The price band is set at ₹545–₹574 and the issue opens on July 14, with the grey market pointing to a...
