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State Bank of India chairman Dinesh Kumar Khara on Wednesday said the planned share sale of the bank's mutual fund subsidiary has been shelved for the time being.
SBI Mutual Fund, the country's largest asset manager with around Rs 6.5 trillion in asset under management, had in February selected seven merchant bankers for a $1-billion IPO. But soon the markets turned volatile with the Russian invasion of Ukraine later in that month.
SBI Mutual Fund, the country's largest asset manager with around Rs 6.5 trillion in asset under management, had in February selected seven merchant bankers for a $1-billion IPO. But soon the markets turned volatile with the Russian invasion of Ukraine later in that month.
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