SBI Funds Management IPO subscribed 2.77 times; NII category drives demand
SBI Funds Management's ₹9,812-crore initial public offering (IPO) was subscribed 2.77 times on its second day, driven primarily by strong demand from non-institutional investors, who subscribed 6.58 times their allotted shares. The healthy participation from high net-worth individuals indicates confidence in the company's growth prospects and business model. Institutional investors also showed steady interest, further reflecting positive sentiment towards the offering.