Mumbai, July 10 -- Ahead of its Rs.11,693-crore initial public offering, SBI Funds Management Ltd has raised Rs.1,655 crore from 30 marquee investors, said a late Thursday stock exchange notification.

State Bank of India has entered into share purchase agreements to divest 1.42% of its holding in its subsidiary. The transaction involves the sale of 28.83 million shares at a price of Rs.574 per share, which is at the upper end of the IPO's price band.

Wipro founder Azim Premji's PI Opportunities Fund-II, Enam Holdings' Akash Bhanshali, veteran investor Prashant Jain's 3P India Equity Fund 1, Tata AIG General Insurance Co., investment manager Neo Group, and private wealth major 360 One were the top investors in the pre-IPO round.

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