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Mumbai: It has been announced that the new share issue plan of SBI Mutual Fund has been temporarily postponed.
SBI Bank’s subsidiary, SBI Mutual Fund, was scheduled to issue new shares, but now the initiative has been temporarily postponed, SBI Bank Chairman Dinesh Kumar Kara said.
SBI Mutual Fund manages investments of over Rs 6.5 lakh crore.
The company announced in December last year that it plans to raise Rs 8,000 crore through a share issue.
But due to the current global economic and market conditions, the IPO has been postponed.
SBI Bank holds 62.60 percent stake in the company.
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