Wall Street bankers Citi, JP Morgan opt out of $1.4 billion SBI Funds IPO—Read why
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. Citigroup Inc., which was part of the initial list of mandated advisers, pulled out over fees, the people said,…