SBI Funds Discloses Unavailable Records in Draft Prospectus

SBI Funds Management Ltd, slated to list its shares next week, revealed in its draft red herring prospectus that it is unable to produce key historical documents. Specifically, the company could not locate the offer letters and allotment details for the 1992 additional issue and the 1997 rights issue.

An independent secretarial firm, Manish Ghia & Associates, was tasked with tracing the records. The firm reviewed electronic filings on the Ministry of Corporate Affairs website, the Registrar of Companies portal, and physical files at SBI Funds' registered office, but the documents remained elusive.

The prospectus clarifies that no legal or regulatory action has been taken so far concerning the missing paperwork. Nonetheless, SBI Funds cannot assure that such action will not be initiated later, and any resulting fines or damages cannot be quantified at this stage.