Feb 26 2021, 10:35 PM
February 26 2021, 4:13 PM
February 26 2021, 10:35 PM
(Bloomberg) State Bank of India, the countryâs largest lender, is preparing for its mutual fund joint venture for an initial public offering, according to people familiar with the matter.
(Bloomberg) State Bank of India, the countryâs largest lender, is preparing for its mutual fund joint venture for an initial public offering, according to people familiar with the matter.
SBI plans to ask investment banks for proposals after discussions with its board and shareholder Amundi Asset Management and kick off the process in the next few months, the people said. The lender could raise about $1 billion from the offering, one of the people said, who asked not to be identified as the information is private. SBIâs mutual fund is currently valued at about $7 billion, another person said.