SBI Funds Management plans $1.5 billion IPO in March

SBI Funds Management Ltd. may file draft papers for an initial public offering next month, according to people familiar with the matter, in what could be the biggest listing by an asset management company in India.The nation’s biggest asset manager plans to submit its draft red herring prospectus for the IPO that could raise as much as $1.5 billion in the first half of March, the people said, asking not to be identified because the information is private. SBI Funds is targeting a valuation of as much as $15 ...