- SBI sold a 1.4% stake in SBI Funds Management for Rs 1,655 crore on Friday
- 2.9 crore shares were sold to 30 investors at Rs 574 per share
- SBI Funds Management was valued at over Rs 1.18 lakh crore before its IPO
State Bank of India divested a 1.4% stake in SBI Funds Management for Rs 1,655 crore late on Friday, ahead of the AMC's public issue. According to an exchange filing, SBI sold 2.9 crore shares to 30 key investors at Rs 574 per share. The transaction values SBI Funds Management at over Rs 1.18 lakh crore and sets the tone for the upcoming IPO.
SBI Funds Management IPO Details
SBI Funds Management, India's largest asset management company by mutual fund assets, is all set to launch an initial public offering (IPO) to raise almost Rs 11,700 crore from the primary market. There is no fresh issue, so the company will not receive any proceeds.
Issue Details And Timeline
- Price band: Rs 545 - Rs 574 per share
- Lot size: 26 shares
- Minimum retail application: Rs 14,924 (at upper end of price band)
- Anchor investor book: July 13, 2026
- Subscription window: July 14 - 16, 2026
- Basis of allotment: July 17, 2026
- Refunds and demat credit: July 20, 2026
Allocation Breakdown
- Qualified institutional buyers (QIBs): 50%
- Large HNIs (non-institutional): 10%
- Small HNIs (non-institutional): 5%
- Retail individual bidders: 35%
On Friday, SBI shares ended 1.42% higher at Rs 1,036.15. SBI shares' 52-week high is Rs 1,234.80, while its 52-week low is Rs 786.55 apiece.
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