The IPO of India's largest asset manager closed on Thursday, drawing keen interest from institutional investors.

India's large IPOs have shown mixed investor returns, with many billion-dollar offerings underperforming. SBI Funds Management's IPO will now test this trend with its strong…

SBI Funds Management IPO was fully subscribed on Day 2, led by strong retail and NII demand. The ₹1.03-billion issue closes on July 16 and lists on July 21.

SBI Funds Management's IPO saw strong subscription interest on its second day. The Qualified Institutional Buyer portion was subscribed 1.5 times, while retail investors showed…