SBI Board has approved to explore the possibility of offloading of 6% in SBI Fund Management through Initial Public Offering (IPO).
“In accordance with Regulation 30 and other applicable provisions of SEBI (LODR) Regulations, 2015, we advise that the Executive Committee of the Bank’s Central Board may approve the sale of 6% stake of the Bank in SBI Funds Management Pvt. through the IPO route, subject to obtaining all regulatory approvals,” the company said in a regulatory filing.
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