New Delhi, July 11 -- State Bank of India (SBI) has completed the transfer of shares under the pre-IPO placement of its asset management subsidiary, SBI Funds Management Ltd (SBIFM), marking another key milestone ahead of the company's proposed Initial Public Offering (IPO). The country's largest lender informed the stock exchanges that it has successfully completed the transfer of shares to 30 investors under the pre-IPO transaction announced earlier this week.

The transaction follows SBI's earlier disclosures regarding the filing of the Red Herring Prospectus (RHP) for the SBI Funds Management IPO and the execution of share purchase agreements with investors. The bank had entered into the agreements on July 9, 2026, while the transfer ...