The State Bank of India, the country’s largest lender, aims to sell a 6 percent stake in SBI Funds Management Pvt, while Amundi intends to sell 4 percent, the firms said in separate filings yesterday. The State Bank of India owns 63 percent of SBI Funds, and Amundi holds the rest. “The IPO would be achieved on the Indian stock market in 2022,” Amundi said in its filing. The State Bank of India and SBI Funds did not respond to e-mails seeking comment. The mutual fund’s IPO process was delayed by a COVID-19 wave that struck India in March.

Source: Taipei Times December 15, 2021 21:57 UTC