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State Bank of India (SBI) has no immediate plans to reduce its stake further in its asset management arm, SBI Funds Management, following its stock market listing, Chairman C S Setty said on Tuesday.
“At present, we are not looking at any additional stake sale. Any decision in the future will depend on public shareholding norms. The same approach applies to Amundi as well,” Setty said after the listing event.
SBI Funds Management had a modest debut on the exchanges, listing at ₹613.30 on the National Stock Exchange (NSE), reflecting a 6.85% premium over its issue price of ₹574. The stock closed the day slightly lower at ₹609.75.
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