State Bank of India will sell a 1.42% stake in SBI Funds Management to 30 investors for ₹1,655 crore through a pre-IPO placement. The shares are priced at ₹574 each, the upper end of the IPO price band, signalling strong institutional interest. Investors include Tata AIG, Go Digit, 360 ONE funds, Bennett Coleman and several AIFs and family offices.