New Delhi, March 19 SBI Funds Management filed preliminary papers with the capital markets regulator, Sebi, on Thursday, seeking to raise funds through an initial public offering (IPO).
According to the draft red herring prospectus (DRHP), the company's maiden public offering is entirely an offer for sale (OFS) of up to 20.37 crore equity shares, with no new issue component.
The issue includes stake sales by promoters, State Bank of India, and Amundi India Holding.
A consortium of merchant bankers has been appointed to manage the issue, including Kotak Mahindra Capital, Axis Capital, BofA Securities India, HSBC Securities and Capital Markets (India), ICICI Securities, Jefferies India, JM Financial, Motilal Oswal Investment Advisors, and SBI Capital Markets.