Mumbai/IBNS, July 14 -- Shares of the State Bank of India (SBI) declined in early trading on Tuesday as the initial public offering (IPO) of SBI Funds Management opened for subscription.

SBI shares fell 1.62 percent on the National Stock Exchange (NSE), touching an intraday low of Rs. 1,026 during the session.

The IPO opened for subscription on Tuesday and will remain available for bidding until July 16.

Market participants will be watching investor response to the issue as well as its potential impact on SBI's stock performance in the coming sessions.

As part of the transaction, the country's largest lender will offload 2.88 crore shares at Rs. 574 per share.

The public issue is expected to draw strong investor interest, given SBI F...