New Delhi,jul 13
SBI Funds Management Ltd. expects to list on the stock exchanges next week after the close of its Rs 11,692 crore IPO, with the company currently undertaking investor outreach programmes across major cities to create awareness about the issue, which involves an Offer for Sale (OFS) of a 10 per cent stake by SBI and Amundi, MD and CEO Debashish Mishra said on Monday.”Everything else is filed, RHP (Red Herring Prospectus) filed and from tomorrow to 16th July we will have three days for offer and next week sometime we will be listing in the stock exchange,” Mishra told ANI.He was speaking to ANI on the sidelines of the press conference of SBI Funds Management Limited for its forthcoming launch of Initial Public Offering (IPO).The IPO, which opens for subscription from July 14 to July 16, comprises an Offer for Sale (OFS) involving a 10 per cent divestment by SBI and Amundi. The company has fixed a price band of ?545 to ?574 per share and has also lined up anchor investors for the issue, he said.Ahead of the launch, SBI Funds Management has conducted investor outreach programmes across major cities, including Mumbai, Ahmedabad, Rajkot and Delhi, with teams visiting other centres to create awareness among investors about the IPO.Mishra said the objective of the IPO is to bring greater convenience to the market and increase participation among investors.The company said its long-term vision is to expand investment participation in the country and become the preferred fund manager for Indian investors.”We want to be the fund managers to Indian. Like our parent is banker to every Indian. So SBI mutual fund will aspire to be the fund manager to every Indian,” Mishra said.He said the company’s key priorities over the next five years include democratisation of investments, digital delivery and providing value to investors.”Being a 140 crore country, we have hardly 10 crore which are the mutual fund or any investment. We will bring that to more,” Mishra said.He added that digital platforms will play a crucial role in expanding access to investment products and improving investor experience.
