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    India's SBI to sell 1.42% stake in SBI Funds ahead of IPO

    Picture of State Bank Of India logoState Bank Of India
    09/07/2026 21:49
    India's SBI to sell 1.42% stake in SBI Funds ahead of IPO
    July 9 (Reuters) - State Bank of India SBI.NS has agreed to sell a 1.42% stake in its asset management unit SBI Funds Management SBIA.NS to a group of 30 investors for about 16.55 billion rupees ($173.52 million) ahead of the unit's planned IPO, the bank said late on Thursday.
         
    ($1 = 95.3800 Indian rupees)

    (Reporting by Chris Thomas and Mrinmay Dey in Mexico City; Editing by Jonathan Ananda)
    ((chris.thomas@thomsonreuters.com;))

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