SBI Funds Management: Promoter Group Reclassification Request

SBI Funds Management Ltd has received a request from its promoter, State Bank of India, to reclassify Indian Digital Payment Intelligence Corporation from the 'Promoter Group' to the 'Public' category. This reclassification is sought under Regulation 31A of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The company has clarified that the entity in question does not hold any shares in SBI Funds Management. The company will proceed with the necessary steps, including board review and seeking approvals from regulatory authorities like SEBI and stock exchanges, as required by the regulations.