SBI Funds filed its red herring prospectus for its inital public offering to open on July 14, according to an exchange filing from the company on Wednesday.
The company's IPO will include an offer-for-sale of up to 20.37 crore shares. SBI Funds will offer 12.8 crore shares in IPO.
The promoter Amundi India will also offer 7.5 crore shares. SBI Funds' IPO will open on July 14 and close on July 16.
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The firm is under joint ownership of State Bank of India and Amundi SA. The IPO will be a purely secondary offering, the propsectus stated. SBI intends to offload 128.3 million shares which makes up 6.3% equity, while Amundi will sell 75.4 million shares, or about 3.7%.
According to Bloomberg, the company has a valuation target of 1.15 trillion rupees ($12.1 billion) to 1.20 trillion rupees, which is a lower amount compared to $14 billion to $15 billion which was planned earlier.
SBI Funds has enlisted nine banks to handle the IPO which consists of Kotak Mahindra Capital Co., Axis Capital Ltd., SBI Capital Markets Ltd., JM Financial Ltd. and HSBC Holdings Plc, as per its draft prospectus.
Anchor Investors are to bid one working day before the opening date of the offer being July 13, 2026.
SBI Share Price History
Share price of State Bank of India saw a 2.04% decline to trade at Rs 1,016.90 at the end of the day's trade, compared to a 2.12% downturn of the NSE Nifty 50. The stock opened at Rs 1,029.60, compared to its previous close of Rs 1,038.10. During today's trading session, State Bank Of India share price moved in the range of Rs 1,011.70 to Rs 1,038.30.
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Looking at its last 52-week performance, the stock has touched a low of Rs 786.55 and a high of Rs 1,234.70. On the performance front, State Bank Of India share price is up 25.13% on a year-on-year basis.
The market capitalization of State Bank Of India is Rs 7.67 Lakh crore, with a P/E ratio of 11.18.
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