The drop in India’s largest asset manager has renewed scrutiny of investor appetite for the company’s listing valuation shortly after trading began.
SBI Funds Management shares fell below their IPO price just four days after the stock’s market debut, a move that has raised new questions about investor demand for India’s largest asset manager at its listing valuation. Early post-listing declines are often watched closely as a gauge of whether the offering was priced in line with market appetite or left little room for aftermarket gains.