SBI office building
Source: NDTV Profit
State-owned lender State Bank of India has sold a 1.4% stake in SBI Funds Management for Rs 1,655 crore ahead of the IPO.
SBI offloaded 2.9 crore shares to 30 key investors at Rs 574 per share, the exchange filing showed.
The stake sale values the AMC at over Rs 1.18 lakh crore and sets the tone for the upcoming public issue.
This is a developing story
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