India’s Top Asset Manager SBI Funds Files Prospectus for IPO

India’s top asset manager SBI Funds Management Ltd. filed a draft prospectus for an initial public offering of as many as 203.7 million shares, in one of the most anticipated listings in the sector.

Founder State Bank of India plans to offload up to 128.3 million shares, or 6.3% of total equity capital, while Amundi India Holding will sell as many as 75.4 million shares, or 3.7%, according to the prospectus. The sale will have no fresh issuance.