Business

Why Wall Street Bankers Citi, JP Morgan Stepping Away From $1.4 Billion SBI Funds IPO

January 7, 2026

Major investment banks Citigroup and JPMorgan Chase have opted out of the $1.4 billion IPO of SBI Funds Management due to concerns over inadequate advisory fees. This withdrawal underscores the increasing tension in high-profile public-sector deals regarding compensation, leading SBI Funds to replace Citigroup with Jefferies Financial Group.

Why Wall Street Bankers Citi, JP Morgan Stepping Away From $1.4 Billion SBI Funds IPO

Credit: Timesnownews

Key Highlights

Citigroup and JPMorgan Chase withdrew from SBI Funds' $1.4 billion IPO due to low fee offers.
SBI Funds Management is backed by shareholders State Bank of India and Amundi SA.
Citigroup was replaced by Jefferies Financial Group as an adviser for the IPO.

Business

Sources

This quick summary is automatically generated using AI based on reports from multiple news sources. The content has not been reviewed or verified by humans. For complete details, accuracy, and context, please refer to the original published articles.

Why Wall Street Bankers Citi, JP Morgan Stepping Away From $1.4 Billion SBI Funds IPO

Key Highlights

Sources

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