Mumbai, July 21 -- State Bank of India (SBI) has no immediate plans to further dilute its stake in SBI Funds Management following the asset manager's successful stock market listing, chairman C.S. Setty said on Tuesday.

"At this moment, we are not looking for any more dilution. Of course, the whole dilution process will depend on the public shareholding norms of Securities Exchange Board of India (Sebi)," Setty said at the sidelines of the listing.

SBI Funds Management on Tuesday listed at Rs.613.30 on the National Stock Exchange, a 6.85% premium over the initial public offering price of Rs.574 per share.

The listing was below expectations as the grey market premium (GMP) was Rs.95.5, signalling an estimated listing price of Rs.669.5, ...