Deals10 Jul 2026, 10:30 pm
SBI Subsidiary IPO Pre-Sale: ₹1,655 Cr Transaction Completed
AI Summary
State Bank of India (SBI) has announced the completion of a pre-IPO transaction for its subsidiary, SBI Funds Management Limited (SBIFM). SBI sold 2,88,32,748 equity shares, representing 1.4156% of SBIFM's pre-Offer capital, to 30 investors at ₹574.00 per share. The total consideration for this sale amounts to ₹1,655.00 crores. This transaction is a step towards the eventual Initial Public Offering (IPO) of SBIFM. The filing also provides financial details of SBIFM for Fiscal 2026, showing total income of ₹4,969.09 crores and reserves and surplus of ₹3,533.09 crores.
Key Highlights
- SBI completed a pre-IPO sale of its subsidiary SBIFM shares.
- 2.88 crore shares sold for ₹1,655 crore at ₹574 per share.
- Transaction involved 30 investors, reducing SBI's stake.
- This is a step towards SBIFM's upcoming Initial Public Offering.
- SBIFM's FY26 income was ₹4,969 crore, reserves ₹3,533 crore.
Price Impact
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