By Ronnie Harui
State Bank of India will explore possibilities to offload its 6% stake in its mutual fund joint venture, SBI Funds Management Pvt. Ltd., through an initial public offering, the bank said in a statement Wednesday.
The Indian bank holds a 63% stake in the mutual fund JV, while Amundi Asset Management holds a 37% stake via a wholly-owned subsidiary, according to SBI Mutual Fund's website.
Write to Ronnie Harui at ronnie.harui@wsj.com
(END) Dow Jones Newswires
12-15-21 0111ET
