Promoter SBI vows no stake reduction despite price drop

Following the second‑day dip of SBICAP Funds shares below ₹600, SBI’s chairman confirmed that the bank will retain its existing stake in the listed entity. The shares, which opened at ₹609, fell to an intraday low of ₹583 and closed at ₹584.70, marking a 4.11% fall. While the IPO was priced at ₹574, the initial listing price was set at ₹613.30, a 6.27% premium. Shetty explained that the offering was designed to involve retail investors in the company’s growth trajectory and that SBI’s continued investment of roughly ₹6,000 crore underscores its long‑term commitment.