PARIS (dpa-AFX) - 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.
The issue will open for subscription on July 14 and close on July 16, while the anchor investor bidding period will open on July 13.
The shares are scheduled to list on the BSE and the National Stock Exchange of India on July 21.
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