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The Economic Times
The Economic Times
Ritesh Presswala

Prashant Jain, other top investors pick Rs 1,655 crore stake in SBI Funds Management pre-IPO deals

Prashant Jain SBI Funds Management SBI IPO AMC India State Bank of India

India's largest asset management company is heading to the stock market with strong institutional backing. SBI Funds Management, the asset management arm of State Bank of India (SBI), has raised Rs 1,655 crore through a pre-IPO placement, selling 2.88 crore equity shares to 30 marquee investors ahead of its much-anticipated Rs 11,692.91-crore initial public offering (IPO).

PI Opportunities Fund-II, Akash Manek Bhanshali, and 3P India Equity Fund I, led by veteran investor Prashant Jain, emerged as the top investors in the pre-IPO share sale.

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