SBI and Paris-based Amundi have a shareholding of 61.98 per cent and 36.40 per cent stake, respectively, in SBIFML and plan to sell a combined 10 per cent stake through the initial public offer
SBI Mutual Fund was established in 1987 with SBI as the sponsor and was the first non-UTI mutual fund in India.
The move follows RK Damani’s Rs 90-crore pre-IPO investment; Moneycontrol was the first to report on SBI MF’s planned investment earlier this month.
Responding to questions about the initial public offering (IPO) plans for SBI General Insurance, Setty said no fixed schedule has been set.
SBI MF's Joint CEO DP Singh, while speaking at the Moneycontrol Global Wealth Summit has said that the fund house is aiming to take capital creation to the bottom of the pyramid, and is confident of making it big.
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The scheme provides flexible SIP options, including daily, monthly, or weekly contributions, to suit the varied financial needs and preferences of customers.
The scheme is set to provide affordable investment opportunities to a larger part of the society.
With the latest stake increase, the final holding of SBI Mutual Fund under its various schemes, as at the close of business hours on September 10 was over 4.64 crore shares which is 7.47 percent.
Karur Vysya Bank's strong financial position and attractive valuation should drive a further re-rating in the stock, say analysts
Plutus Wealth Management sold a 2.44 percent stake in AMI Organics for an average price of Rs 1350 per share.
Two marquee funds with significant holdings in the stock find themselves on opposing sides of the trade.
In an exclusive conversation with Moneycontrol, chief investment officer, R Srinivasan, talks about SBI Mutual Fund’s Smallcap Scheme Stress Test report, and more.
For investors, the open-ended fund comes with a relatively lower cost as it is a passive fund which will remain open from January 16 to 29, the fund house said.
Zydus Family Trust and SBI Mutual Fund were the buyers of Zydus Wellness shares.
The shares bought were equivalent to 1.5 percent of paid-up equity in the bank
The approval has been granted with refrence to the application made by SBIMF to RBI, the central bank bank in an statement
D P Singh has over 31 years of experience in banking and financial services industry and has been associated with SBI Mutual Fund since 1998. He was earlier deputy managing director and chief business officer at the AMC.
This fundraise comes on heels of Nazara Technologies issuing shares of up to Rs 100 crore to Zerodha co-founder Nikhil Kamath's two firms - Kamath Associates and NKSquared.
According to the block deal data available with the NSE, SBI Mutual Fund acquired 46,28,452 shares of United Breweries Ltd (UBL).