India, July 9 -- European asset manager Amundi S.A. (AMDUF) said its joint venture with India's largest lender, State Bank of India, SBI Funds Management Ltd. (SBIFM), has set a price band of ?545 to ?574 per share for its initial public offering.
The IPO comprises an offer for sale of up to 10% of SBIFM's outstanding shares by existing shareholders SBI and Amundi. SBI plans to sell up to 6.3% of its stake, while Amundi will divest up to 3.7%.
No fresh shares will be issued as part of the offering, with all proceeds going to the selling shareholders.
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The issue will open for subscription on July 14 and close on July 16, while the anchor investor bidding ...