SBI Funds Management has concluded one of India’s most successful IPOs, attracting bids worth nearly US$31 billion. The issue became the country’s fourth most-subscribed public offering, with exceptionally strong participation from institutional investors, sovereign wealth funds and retail investors.
The overwhelming response reflects continued investor confidence in India’s mutual fund industry and the growing participation of domestic investors in capital markets. The shares are scheduled to list on July 21, with market participants expecting a closely watched debut.
