SBI Funds Management Ltd is gearing up to introduce its initial public offering (IPO) next week. In its Red Herring Prospectus (RHP), the company disclosed the inability to locate certain historical corporate records. This disclosure includes a warning to investors regarding potential legal or regulatory actions in the future due to the missing filings.
The IPO document highlights the absence of various records, such as Form 2 related to an issue in 1992 and offer letters from 1997. Independent company secretaries conducted searches at the Registrar of Companies (RoC) and reviewed digital records on the Ministry of Corporate Affairs (MCA) portal. Additionally, they physically searched for records at the company’s registered office.
SBI Funds Management informed the RoC about the missing records and filings through a letter dated March 2, 2026. The company emphasized that although no legal or regulatory actions have been taken against them yet, there is no guarantee against future proceedings related to the untraceable filings and corporate records.
The company expressed uncertainty about the potential penalties or losses that might be incurred due to these missing records. It also highlighted the possibility of adverse effects on their financial standing or reputation from any future legal actions. SBI Funds Management, the largest asset management company in India, is set to launch its Rs 11,693-crore public issue from July 14 to July 16, with a price band of Rs 545 to Rs 574 per share.
