SBIFM IPO to earn ₹4,400 cr for Amundi, 15 yrs after ₹174-cr bet

Amundi, Europe's leading asset manager, is poised to gain nearly ₹4,400 crore from its ₹173.9-crore investment in SBI Funds Management (SBIFM), made around 15 years ago, as SBIFM prepares for its IPO, Moneycontrol reported. Amundi India Holding will sell 75.37 million shares while retaining a 32.56% stake. While original promoter SBI is expected to raise about ₹7,370 crore.