SBIFM — India's IPO market gets boost as SBI Funds Management surges 8.9% on debut

Shares in SBI Funds Management, India's largest asset manager, jumped 8.9% in their stock market debut, signaling a potential revival for the country's listing pipeline. The company raised $1 billion in India's largest IPO this year, attracting bids worth $31 billion. The successful debut may encourage other large firms, such as Reliance Jio Infocomm, to proceed with their own flotations, which had been delayed by market volatility.