SBI Funds Management IPO subscribed 2.77 times; NII category drives demand
SBI Funds Management Ltd's Rs 9,812-crore IPO saw strong demand on day two, with the issue being subscribed 2.77 times. Non-institutional investors (NIIs) led the way, bidding for 6.58 times the shares reserved for them. The IPO is expected to raise over Rs 11,000 crore for SBI and Amundi, with the former's foreign partner set to receive Rs 4,400 crore. The company's strong