Home / Business and Economy / SBI Funds IPO Size Cut After Rs 1,880 Cr Pre-IPO Placement

SBI Funds IPO Size Cut After Rs 1,880 Cr Pre-IPO Placement

12 Jul

Summary

SBI Funds secured Rs 1,880 crore via pre-IPO purchase agreements.
The pre-IPO deal reduced the total IPO offer for sale amount.
Key investors like Premji Invest participated in the pre-IPO round.

SBI Funds IPO Size Cut After Rs 1,880 Cr Pre-IPO Placement

SBI Funds, through its investment manager SBI Mutual Funds, has raised Rs 1,880 crore via pre-IPO purchase agreements involving 30 investors. The transactions included the promoter, State Bank of India, selling shares equivalent to 1.4156% of its pre-offer capital.

Prominent investors such as Susquehanna Asia Technology and WhiteOak Capital India Opportunities Fund also participated. Funds managed by Premji Invest, 3P India Equity Fund, and 360 ONE Asset Management were among the significant subscribers, acquiring substantial shareholdings.

As a consequence of these pre-IPO agreements, the total offer for sale in SBI Funds' Initial Public Offering has been reduced from Rs 11,693 crore to Rs 9,813 crore. The IPO will be open for public subscription from July 14 to July 16, with the listing anticipated on July 21.

Disclaimer: This story has been auto-aggregated and auto-summarised by a computer program. This story has not been edited or created by the Feedzop team.