Citi, JPMorgan Opt Out of $1.4 Billion SBI Funds IPO on Low Fees

Some of Wall Street’s biggest banks have opted out of advising on a planned $1.4 billion initial public offering of India’s SBI Funds Management Ltd. because of low fees, according...

By Rajesh Mascarenhas, Baiju Kalesh, Dave Sebastian · Bloomberg Markets

Some of Wall Street’s biggest banks have opted out of advising on a planned $1.4 billion initial public offering of India’s SBI Funds Management Ltd. because of low fees, according to people familiar with the matter.