According to a Moneycontrol report citing industry insiders, SBI Funds Management is aiming for a valuation of $12.3 billion (₹1.17 lakh crore) for its initial public offering. The company, a partnership between SBI and the European firm Amundi, plans to launch the IPO later this month. The offering will consist entirely of an offer-for-sale involving 20.37 crore shares, which represents a 10% stake in the business.

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