What are the details of upcoming SBI Funds' ₹12,000 cr mega IPO?

SBI Funds Management, India's largest asset manager, is set to launch its IPO in the week beginning July 13, aiming to raise up to $1.2 billion (₹11,426.4 crore), Bloomberg reported. The offer is entirely an OFS, with SBI selling a 6.3% stake and Amundi 3.7%. The company is reportedly targeting a valuation of $12.3 billion (₹1.17 lakh crore).