The missing documents are nearly three decades old. SBI Funds has made it clear that due to these missing documents, they cannot assure investors that there will be no legal or regulatory action against the company in the future.
SBI Funds discloses missing documents ahead of IPO: SBI Funds Management Limited has made a shocking revelation before the launch of its Initial Public Offering(IPO) next week. The company has admitted in the Red Herring Prospectus that it is unable to locate some of its most important old records and documents.
The IPO of SBI Funds will be open for general investors from July 14 to July 16. The price band of the IPO has been fixed at ₹545 to ₹574 per share. The total size of the issue is ₹11,693 crore. This entire issue is an offer for sale. The missing documents are nearly three decades old. The offer letter and the allotment letter related to the Additional Issue issued on June 30, 1992, and the Rights Issue brought on November 7, 1997, are missing. The firm searched digital records available on the portal of the Registrar of Companies (ROC), the Ministry of Corporate Affairs (MCA), and the registered office of the company, but the records were not found.
SBI Funds has made it clear that due to these missing documents, they cannot assure investors that there will be no legal or regulatory action against the company in the future.
