SBI MF to Join Listed Club; Physicswallah, Tenneco Set Price Bands for Upcoming IPOs
IPO: SBI Funds Management is preparing to launch an IPO. Through this, it will sell 6% of its stake, while Amundi India will sell 3.7%. SBI Funds Management, the sponsor of SBI Mutual Fund, will be the fourth listed company in the group. SBI Cards, SBI Life, and SBI are already listed on the stock exchange.
SBI Funds Management is gearing up for an IPO, through which it will sell 6% of its stake. Amundi India will sell 3.7%. The sponsor of SBI Mutual Fund, SBI Funds Management, will be the fourth listed company in the group after SBI Cards, SBI Life, and SBI.
Amundi India Holding, the other promoter of SBI Funds Management, will offload 18.8 million equity shares, SBI said. The country's largest lender, SBI, holds 61.91% of its stake in the mutual fund, while Amundi holds 36.36%. The IPO is likely to be completed in 2026. It is the country's largest fund house with assets under management of ₹11.99 lakh crore.
Noida-based edtech unicorn Physicswallah has set a price band of ₹103-109 for its ₹3,480 crore IPO. The capital raised will be ₹31,500 crore. The issue will open on November 11th and close on November 13th. Promoters Alakh Pandey and Pratik Boob hold a 40.31% stake in the company. ₹460 crore of the issue proceeds will be spent on setting up new offline and hybrid centers. ₹548 crore will be used to pay leases for existing centers.
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₹200 crore will be spent on server and cloud infrastructure, and ₹710 crore on marketing. Tenneco Clean Air India will raise ₹3,600 crore. The issue will open on November 12th. The issue is purely an offer for sale, so the company will not receive any proceeds from the IPO.
