SBI Funds Management is preparing to launch one of India’s biggest IPOs this year, with the issue expected to open in the week beginning July 13 and raise as much as $1.2 billion through a pure offer-for-sale. The country’s largest asset manager is targeting a valuation of 1.15 trillion rupees-1.20 trillion rupees, lower than earlier expectations, as it gauges investor sentiment amid a revival in the primary market.
