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SBI Funds Management, a subsidiary of State Bank of India, has filed its red herring prospectus with the Registrar of Companies for its proposed initial public offering. The IPO will open for public subscription on July 14 and close on July 16. Anchor investors will be able to place bids on July 13, one working day before the issue opens. The bidding period for qualified institutional buyers will close on July 15, a day before the public issue closes.

The IPO will be entirely an offer for sale of up to 20,37,09,239 equity shares of face value Rs 1 each and seeks to value the company at Rs 1.17 lakh crores. This represents up to 10.0013% of SBI Funds Management’s paid-up equity share capital.

SBI will sell up to 12,83,34,397 shares through the offer, representing 6.3% of SBI Funds Management’s paid-up equity share capital. Amundi India Holding will sell up to 7,53,74,842 shares, representing 3.7% of the company’s paid-up equity share capital.

Also Read: NSE eyes September launch for $3 billion IPO; marketing likely to begin next week

Since the issue is fully an offer for sale, SBI Funds Management will not receive any proceeds from the IPO. The money will go to the selling shareholders, SBI and Amundi India Holding.

SBI had earlier informed the exchanges on March 19 that SBI Funds Management had filed its draft red herring prospectus. The latest filing of the red herring prospectus moves the IPO closer to launch, though the offer remains subject to regulatory approvals, market conditions and other considerations.
SBI Funds Management IPO detailsSBI Funds Management is the investment manager of SBI Mutual Fund, one of India’s largest asset management businesses. The IPO is expected to be closely watched because of the scale of the mutual fund industry and SBI’s strong distribution reach across the country.

The listing would also give investors a chance to own a business linked to India’s growing financial savings market. Mutual funds have seen strong inflows from retail investors in recent years, helped by rising systematic investment plans and wider participation from smaller cities.

For SBI, the IPO will help partly monetise its stake in the asset management subsidiary. For Amundi India Holding, the offer will also provide a partial exit route.

The key details investors will watch next are the price band, issue size in rupee terms, market capitalisation and valuation compared with other listed asset management companies. The final pricing will determine how the offer stacks up against peers in the asset management space.

Travis Kelce opened up about the moment he began planning his marriage proposal to Taylor Swift, revealing during the season finale of his “New Heights” podcast that he was already plotting the engagement while she made her first appearance on the show back in August 2025.

Kelce and his brother, Jason Kelce, released the season finale of “New Heights” on Wednesday, July 8, five days after Travis and Swift officially married in a ceremony at Madison Square Garden in New York. The episode, which featured NFL legend Tom Brady as a guest, did not include any direct discussion of the wedding itself, since the episode was recorded ahead of the July 3 ceremony. Travis did, however, reflect on the origins of his engagement to Swift while looking back on the podcast’s season.

Confirming long-rumored details about the timing of his proposal, Travis revealed that he began planning to ask Swift to marry him immediately after she appeared on the “New Heights” season premiere, which was originally published August 13, 2025. “Starting it with Taylor, pretty epic. During that recording the entire time, I’m planning, like, I’m gonna ask this woman to marry me after,” Travis said. He went on to describe that episode as “one I’ll remember forever.”

Swift’s appearance on that season-opening episode marked her first-ever appearance on “New Heights,” during which she announced her twelfth studio album, “The Life of a Showgirl,” and shared the album’s cover art with listeners. According to Jason Kelce, the episode became the most-watched in the podcast’s history by a wide margin, drawing 25 million views on YouTube alone, far surpassing the show’s previous high of roughly 9 million views for an episode featuring Jason’s wife, Kylie Kelce, in September 2023.

Swift and Kelce announced their engagement publicly on August 26, 2025, shortly after her podcast appearance, with Kelce having proposed to her in his backyard, which had reportedly been transformed into a garden setting for the occasion. The couple’s relationship first began in the summer of 2023, when Swift’s Eras Tour stopped in Kansas City and Kelce attempted, unsuccessfully, to give her a friendship bracelet featuring his phone number after attending one of her shows.

Swift and Kelce were married July 3 at Madison Square Garden in a ceremony attended by more than 1,000 guests, following a smaller rehearsal dinner held at the same venue the previous day. The ceremony was officiated by actor Adam Sandler, who previously co-starred with Kelce in the film “Happy Gilmore 2.” Rather than opting for traditional wedding parties, the couple chose to forgo bridesmaids and groomsmen altogether, with Jason Kelce serving as Travis’ best man and Swift’s brother, Austin Swift, serving as her “man of honor.”

Both Swift and Kelce wore custom Christian Dior Haute Couture designed by the fashion house’s creative director, Jonathan Anderson, for the ceremony. According to a source who spoke to multiple outlets, the couple’s vows lasted approximately 20 minutes each, and musician Paul McCartney performed the Beatles’ classic “I Want to Hold Your Hand” during the celebration. Guests reportedly described the wedding vows as an emotional moment for both Swift and Kelce, with one attendee telling NBC News that Kelce, rather than Swift, appeared to be the more visibly emotional of the two during the ceremony, particularly during a portion of his vows in which he promised to protect her.

The wedding reportedly incorporated design elements meant to reflect the couple’s love story, including light peach drapes, floral arrangements, candles, and photographs documenting their relationship displayed throughout the venue. According to CNN, the ceremony was also organized in a way intended to encourage guests to remain present in the moment rather than documenting the event on their phones, an approach reinforced by the inclusion of arcade games and a raffle as part of the reception, alongside a strict no-phone policy inside the venue.

Ahead of the wedding, Swift and Kelce also made a joint charitable gesture, announcing a combined $26 million donation across 20 charities throughout the United States, including children’s hospitals and food banks, according to reporting on the lead-up to the ceremony.

Neither Swift nor Kelce has publicly released official footage or extensive personal commentary from the wedding day itself, consistent with the private nature enforced throughout the event. In the days following the ceremony, however, lighthearted moments involving the couple’s extended family have continued to surface. Travis’ mother, Donna Kelce, was photographed at an airport on Sunday, July 5, wearing a cap bearing the phrase “Eldest Daughter,” a reference to a track from Swift’s “The Life of a Showgirl” album, drawing attention as a playful nod to her son’s recent marriage. Speaking to Macy’s in a video posted to Instagram, Donna Kelce offered a brief reflection on the ceremony, saying, “I really can’t say a heck of a lot except it was magical, man, magical.”

Wednesday’s podcast episode marked the season finale for “New Heights,” with Travis set to depart for training camp ahead of the upcoming NFL season following the episode’s release. Jason Kelce described the season, which began with Swift’s appearance and closed with Brady’s, as “by far” the podcast’s most-watched season to date, calling the run “pretty fun” during the episode.

With the wedding now behind them and the “New Heights” season concluded, Swift and Kelce appear to be taking a step back from the public spotlight in the immediate aftermath of their marriage, with neither having addressed the ceremony directly in their own words beyond Travis’ brief reflection on the origins of his proposal during Wednesday’s episode. Fans and followers of the couple are likely to continue watching for further public comments from either Swift or Kelce as they settle into married life following one of the most closely covered celebrity weddings of the year.

BRISBANE, Australia — New South Wales produced one of the great State of Origin boilovers, defeating Queensland 30-12 in Wednesday night’s deciding Game 3 at Suncorp Stadium to claim the 2026 series 2-1, silencing a raucous Brisbane crowd that had expected the Maroons to reclaim the shield on home soil.

The result capped a remarkable turnaround for a NSW team that had entered the decider under significant pressure, having been outplayed in the series opener at Accor Stadium in Sydney before suffering a heavy defeat in Melbourne in Game 2, a loss that included conceding 36 second-half points and saw coach Laurie Daley pilloried across Australian media in the lead-up to the deciding match.

The hero of the night was halfback Nathan Cleary, who scored two tries and converted five from five kicks, a performance that earned him the Wally Lewis Medal as player of the series. Cleary entered the decider with his Origin reputation under scrutiny after missing an Origin-record 10 tackles during NSW’s heavy Game 2 defeat, despite already holding four NRL premiership rings with the Penrith Panthers. He approached the match with a simple, one-word strategy. “We were written off. We came together as a group and rallied around each other,” Cleary told Nine after the match, reflecting on the pressure the squad had faced heading into the decider.

NSW controlled the contest from the opening exchanges, with Cleary steering the team through a dominant opening stanza alongside halves partner Mitchell Moses. The Blues drew first blood when Cleary himself scored, stepping through three Maroons defenders to open the scoring, before a well-worked passage of play involving Liam Martin, Stephen Crichton and Mark Nawaqanitawase set up Cleary for his second try shortly after, pushing the score to 0-12. A third NSW try followed when Cleary stripped the ball from Queensland winger Selwyn Cobbo, with forward Cameron Murray crashing over two plays later to extend the margin to 0-18 and stun the sold-out Suncorp crowd into silence.

Queensland finally found a way onto the scoreboard when Cameron Munster sparked an attacking raid that saw Hamiso Tabuai-Fidow barrel over in the corner for his 14th career Origin try, cutting into the deficit before halftime. NSW held an 18-4 lead at the break, a scoreline that reflected the Blues’ dominance despite Queensland holding a majority of possession and completing a higher percentage of their attacking sets across the opening 40 minutes. The first half was further marred by a heavy collision between Queensland’s Briton Nikora and NSW captain James Tedesco, which forced Tedesco from the field for a grade-two head injury assessment and sparked a heated confrontation between the two sides shortly before the interval.

The second half brought continued Queensland pressure but further NSW resilience and composure. Despite Maroons errors opening the door for additional NSW opportunities, the Blues extended their advantage through the closing stages of the match, ultimately putting the result beyond doubt. A dangerous tackle awarded Cleary the opportunity to slot a long-range penalty goal, before forward Hudson Young sealed the emphatic victory late in the match, diving over to complete the scoring and lock in the 30-12 final result.

The win marked a significant milestone for Daley, who becomes just the third Blues coach in Origin history to win multiple series as head coach, joining Phil Gould, who won six series, and Brad Fittler, who won three. Daley was visibly emotional following the match, shedding tears as reporters sought comment on his coaching future, though he remained tight-lipped about what comes next for him in the role. The victory also marked just the fourth time New South Wales have won a decider on Queensland soil in Brisbane, and the seventh time overall across 25 attempts at winning an Origin decider.

Centre Bradman Best was singled out for an outstanding attacking performance throughout the match, while back-rower Liam Martin brought his trademark physicality in defense, repeatedly disrupting Queensland’s attacking structure alongside fellow forward Hudson Young. Daley made five changes to his starting side for the decider, with all five having a notable impact on the result, according to postgame analysis of the performance.

For Queensland, the result brings a disappointing end to a series in which the Maroons had appeared to hold the upper hand after their dominant Game 2 win in Melbourne. Coach Billy Slater’s side struggled to maintain composure at key moments in the decider, with several handling errors and missed opportunities compounding the difficulty of overturning NSW’s early lead. Queensland also lost prop Lindsay Collins to a first-half concussion, forcing a reshuffling of the interchange bench, while young playmaker Sam Walker briefly left the field for a head knock in the second half, with Kalyn Ponga’s halves partner Reece Walsh introduced into the contest as a replacement option.

Wednesday’s result closes out the 2026 State of Origin series with New South Wales reclaiming the shield after Queensland’s win in the previous series, delivering what commentators have already described as one of the more significant Origin boilovers in recent memory given the scale of criticism directed at Daley and his squad heading into the decisive match. Cleary’s performance, capped by the Wally Lewis Medal, further cements his standing as one of the competition’s premier players, adding an Origin series Man of the Series honor to a rugby league résumé already headlined by four NRL premierships with Penrith.

With the series now concluded, attention turns to the fallout for both camps, including ongoing questions about Daley’s future as NSW coach following his second series triumph, and how Queensland regroups after failing to defend home advantage in a decider many had expected the Maroons to control given their dominant showing in Game 2.

ADELAIDE — South Australian drivers are being urged to use real-time fuel price apps to save money at the bowser after a statewide compliance blitz saw nearly $20,000 in fines issued to petrol stations for inaccurate pricing, the state government announced this week.

The reminder comes as the full fuel excise returned to its usual level on July 1, adding further pressure to household budgets and making it increasingly important for motorists to compare prices before filling up. Since conflict in the Middle East began earlier this year, inspectors from Consumer and Business Services have carried out more than 1,000 fuel price inspections across metropolitan and regional South Australia to ensure petrol stations are complying with the state’s real-time fuel pricing laws.

The inspections have resulted in 29 expiation notices being issued to service stations, with nearly $20,000 in fines handed out for failing to correctly report fuel prices or list fuel as unavailable when it was not. A further 24 warning letters have also been issued to retailers found to be non-compliant during the ongoing enforcement effort.

Under South Australia’s real-time fuel pricing scheme, retailers are required to update a central database within 30 minutes whenever prices change or fuel becomes unavailable at the pump. That information is then made publicly available through a range of free fuel price comparison apps, allowing motorists to check prices across nearby service stations before deciding where to fill up.

Consumer and Business Affairs Minister Michael Brown said the timing of the reminder was particularly important given the return of the full fuel excise. “With the fuel excise now back at its usual level, make sure you are getting the best priced fuel by using the fuel watch apps,” Brown said. He added that the government remains committed to holding non-compliant retailers accountable. “The Malinauskas Government is cracking down on petrol stations who fail to comply with our real-time petrol price monitoring and South Australians can save more than $100 a year on fuel through our Fuel Watch initiative.”

Wednesday’s update builds on a series of earlier enforcement actions the state government has taken throughout 2026 as part of its broader crackdown on fuel pricing compliance. An April compliance blitz saw more than 500 inspections carried out across the state, resulting in nine service stations fined nearly $8,000 at the time, with a further 11 sites placed under investigation. Those fined in that earlier round included stations across both regional and metropolitan areas, among them Coober Pedy, Bordertown, Strathalbyn, Renmark, Berri, Karoonda, Goodwood and Park Holme. At the time, Brown said the government was taking a “zero-tolerance approach” to non-compliance, adding that the government intended to “name and shame those who fail to meet their obligations.”

A separate compliance blitz conducted ahead of a long weekend in early June saw more than 200 additional inspections carried out across Adelaide, the West Coast, Eyre Peninsula, Yorke Peninsula, the Riverland and the Limestone Coast. Cumulatively, since the Middle East conflict began earlier this year, Consumer and Business Services has investigated nearly 400 complaints and conducted around 800 service station inspections, resulting in 22 fines totaling more than $12,000 and 18 written warnings, according to figures the government released in early June, ahead of the more recent enforcement figures announced this week.

To strengthen its enforcement capabilities, the South Australian government has passed new legislation significantly increasing penalties for non-compliant fuel retailers. The Fair Trading (Fuel Pricing Information Penalties) Amendment Bill became the first law to pass through the state’s Parliament this session, with the changes set to take effect later this month. Under the new penalty structure, on-the-spot expiation fines for breaches will jump from $550 to $5,000 per offense, while the maximum penalty a court can impose will double from $10,000 to $20,000. Premier Peter Malinauskas said at the time the legislation passed that petrol stations failing to comply “will face the consequences,” which now include penalties of up to $20,000 per offense.

The government has also committed additional resources to enforcement, funding an extra 100 inspections per month as part of a $1.2 million election commitment, with recruitment currently underway for additional Consumer and Business Services inspectors to expand the program’s reach across the state. Brown reiterated that the increased enforcement reflects a campaign promise made ahead of the government’s election. “The government is delivering on our election commitment to make sure petrol stations do the right thing by South Australian motorists with higher penalties and more inspections across the state,” Brown said.

According to the Royal Automobile Association of South Australia, motorists who consistently use real-time fuel pricing apps to compare prices before filling up can save an average of $117 a year based on typical fuel consumption patterns. Extrapolated across the broader South Australian driving population, those individual savings are estimated to total approximately $58 million annually if more drivers made consistent use of the available pricing tools.

Drivers looking to take advantage of the real-time pricing scheme can compare fuel prices using a range of free apps, including the RAA app, which provides both pricing and availability information, along with Petrol Spy, Motor Mouth, SA Bowser: Should I Fuel? and ServoTrack, all of which are available for download through the App Store or Google Play.

With the fuel excise back at its full rate and global oil prices remaining volatile amid ongoing tensions in the Middle East, South Australian officials have continued to emphasize that accurate, real-time price reporting plays a critical role in helping motorists manage rising transportation costs. As the state’s compliance program continues to expand, with tougher penalties set to take effect later this month, officials say they expect the threat of significantly higher fines to further deter non-compliant behavior among the state’s fuel retailers, while consumer advocates continue to encourage drivers to make regular use of the available comparison tools to secure the best possible prices at the pump.

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Shares of International Business Machines Corp. fell more than 1.6 percent Tuesday, closing at $301.10 as broader technology sector pressures and profit-taking weighed on the stock amid ongoing debates about artificial intelligence investment returns and enterprise spending trends.

The decline of $5.03 per share marked a modest pullback for the blue-chip technology company, which has navigated a complex environment of AI opportunities, legacy system modernization challenges and macroeconomic uncertainty. IBM’s performance reflected mixed investor sentiment across the sector, where enthusiasm for generative AI capabilities has at times clashed with questions over near-term monetization and competitive dynamics.

IBM has positioned itself as a leader in hybrid cloud, enterprise AI through its Watsonx platform and quantum computing initiatives. Recent announcements highlighted continued innovation, including new compact z17 and LinuxONE systems designed to address data center space and cost constraints, as well as advancements in quantum research collaborations.

Despite these developments, the stock faced headwinds Tuesday. Market participants cited broader rotation away from some technology names, valuation concerns in the AI space and sector-wide caution following recent volatility in chipmakers and software providers. IBM’s shares have experienced periods of strength tied to its software and infrastructure growth but remain sensitive to shifts in enterprise IT spending.

Analysts have pointed to IBM’s stable business model, anchored by recurring revenue from software, consulting and infrastructure, as a source of resilience. The company’s focus on mission-critical systems for large enterprises provides a moat, though emerging AI tools capable of accelerating legacy code modernization have raised questions about long-term demand for certain services.

IBM’s latest financial performance showed solid execution in key areas. Software and infrastructure segments have delivered growth, supported by hybrid cloud adoption and AI-related offerings. However, some observers noted moderating momentum in parts of the business amid competitive pressures and cautious client spending in an uncertain economic backdrop.

The company’s dividend remains attractive to income-focused investors, contributing to its appeal as a defensive technology play. With a consistent payout history, IBM continues to draw long-term holders even as growth-oriented investors debate its positioning relative to pure-play AI companies.

Tuesday’s trading volume was in line with recent averages, suggesting the move was part of normal market mechanics rather than a reaction to company-specific news. IBM shares have traded within a 52-week range that reflects both optimism around its strategic initiatives and periodic concerns over execution and competition.

Broader market context played a role. Technology stocks showed uneven performance as investors assessed the sustainability of AI-related capital expenditures. While leaders in semiconductors and cloud computing posted mixed results, concerns about high valuations and return timelines rippled through the sector.

IBM has responded to the evolving landscape with significant investments in emerging technologies. Its commitment to quantum computing, including partnerships with national laboratories and healthcare organizations, aims to establish leadership in a field with potential long-term transformative impact. Recent milestones include computations related to fusion materials, underscoring progress in practical applications.

Enterprise clients continue to prioritize modernization of critical infrastructure, where IBM’s expertise in secure, reliable systems provides differentiation. The company’s Red Hat acquisition has strengthened its hybrid cloud capabilities, enabling organizations to balance on-premises and public cloud environments while addressing security and compliance needs.

Challenges persist in the consulting and services segments, where AI tools promise to automate tasks traditionally handled by human experts. IBM is adapting by integrating AI across its offerings, but the pace of disruption remains a focal point for investors evaluating future growth trajectories.

Wall Street analysts maintain a range of views on IBM. Some highlight its valuation as reasonable given stable cash flows and dividend yield, while others call for clearer evidence of AI-driven acceleration in revenue and margins. Consensus price targets reflect a mix of optimism and measured expectations.

Looking forward, IBM’s upcoming earnings and strategic updates will be closely watched. Investors seek signs of sustained momentum in high-margin software, successful integration of AI capabilities and progress on quantum and infrastructure innovations. Macroeconomic factors, including interest rates and corporate budgets, will also influence performance.

The session’s decline comes after periods of strength for IBM, during which the stock benefited from its reputation for reliability amid broader market volatility. As one of the original members of the Dow Jones Industrial Average, IBM often serves as a proxy for mature technology leadership in an industry dominated by younger, high-growth names.

Market strategists note that rotations between growth and value stocks can create short-term pressure on established players like IBM even when fundamentals remain sound. The company’s diversified revenue streams provide a buffer compared with more concentrated peers.

In the competitive landscape, IBM continues to face pressure from hyperscale cloud providers and specialized AI firms. However, its emphasis on enterprise-grade solutions, security and regulatory compliance positions it favorably for clients in finance, healthcare and government sectors where trust and reliability are paramount.

Tuesday’s close leaves IBM shares in a consolidation phase within their yearly range. Technical indicators suggest potential support levels near recent lows, with resistance tied to prior highs achieved during periods of positive sentiment around AI and cloud initiatives.

As the technology sector navigates the intersection of innovation and valuation realities, IBM’s path reflects the broader challenges and opportunities facing established technology giants. Its ability to translate research breakthroughs and strategic investments into consistent growth will determine whether it can outperform in an increasingly AI-centric market.