SBI Funds reduces IPO size to Rs 9,812 crore after pre-offer placement. Will it impact listing gains?

SBI Funds Management has cut its IPO size to Rs 9,812 crore from Rs 11,693 crore after raising Rs 1,655 crore through a pre-IPO placement with 30 anchor investors. The IPO, entirely an offer-for-sale by SBI and Amundi India Holding, will open on July 14. SBI sold 1.42% stake at Rs 574 per share, the upper price band.

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