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The Economic Times
The Economic Times
Nikhil Agarwal

SBI Funds IPO jackpot turns 13 employees into crorepatis; top ESOP haul hits Rs 121 crore

SBI Funds IPO SBI Funds Management

Years of employee stock ownership at SBI Funds Management are set to translate into multi-crore fortunes as the country's largest asset manager debuts in the stock market. At the IPO issue price of ₹574 a share, 13 employees hold equity stakes worth more than ₹1 crore, with Deputy Managing Director Devinder Pal Singh emerging as the biggest beneficiary with shares valued at about ₹121 crore, according to the company's prospectus. Srinivasan Rama Iyer, the fund house's Chief Investment Officer, follows with a stake worth about ₹105 crore.

Shares of SBI Funds Management made their D-Street debut today, listing at a 7% premium to the IPO price. The stock opened at Rs 610 on the BSE, up 6.27% over the issue price of Rs 574. On the NSE, it debuted at Rs 613.30.

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