SBI Funds Management Ltd., India's largest asset management firm, will open its Rs 11,692.91 crore IPO tomorrow, with a grey market premium signaling a potential 16% listing gain.

SBI Funds Management raises ₹1,655 crore through pre-IPO placement ahead of its offering priced at ₹545-₹574 per share.

SBI Funds Management secured ₹1,655 crore from investors before its IPO. This pre-IPO share sale occurred ahead of the company's upcoming public offering. The asset manager's…