SBI Funds Management IPO Gets Fully Subscribed on Second Day of Bidding

NEW DELHI: The Rs 9,812.91-crore initial public offering (IPO) of SBI Funds Management Ltd was fully subscribed on the second day of bidding on Wednesday.

According to NSE data available till 11:21 am, the issue received bids for 14.51 crore shares against 12.45 crore shares on offer, translating into an overall subscription of 1.17 times.

The non-institutional investor (NII) segment led the demand with 2.65 times subscription, while the retail investors’ quota was subscribed to 97 per cent. The portion reserved for Qualified Institutional Buyers (QIBs) saw 8 per cent subscription at the time of reporting.