Mumbai/IBNS, July 13 -- SBI Funds Management, India's largest asset management company by assets under management (AUM), is set to launch its Rs. 11,700-crore initial public offering (IPO) on Tuesday, marking one of the biggest public issues in the financial services sector this year, media reports said.

SBI Funds Management IPO Opens on Tuesday

The IPO will remain open for subscription until July 16.

Investors will be closely watching the issue, given the company's strong market position in India's fast-growing mutual fund industry.

SBI to Sell Stake Through Pre-IPO Deal

Ahead of the public issue, SBI has decided to sell a 1.4 percent stake in SBI Funds Management through a pre-IPO transaction valued at Rs. 1,655 crore, according to...