Investors who bought SBI Mutual Fund's unlisted shares about three years ago are already sitting on nearly four-fold returns, even before the country's largest asset manager launches its much-awaited initial public offering.
The wealth creation has come through a sharp appreciation in the stock price as well as a bonus issue. SBI Mutual Fund's unlisted shares, which traded around Rs 900 three years ago, climbed to nearly Rs 2,800 before the company announced a 3:1 bonus issue. Following the bonus adjustment, the shares are currently changing hands at around Rs 858 in the unlisted market, translating into an effective return of about 3.8 times for early investors, according to UnlistedZone.
