The SBI Funds Management's Rs Rs 9,795-crore IPO opened for public subscription on July 14 and will close on July 16. The price band has been fixed at Rs 545-574 per equity share, with investors able to bid for a minimum of 26 shares and in multiples thereafter.
The public issue is entirely an offer for sale (OFS) of up to 17.09 crore equity shares by existing shareholders State Bank of India (SBI) and Amundi, aggregating up to Rs 9,795 crore at the upper end of the price band. The issue size was earlier proposed at Rs 11,693 crore but was subsequently reduced after the company completed a pre-IPO placement of about Rs 1,880 crore. At the upper end of the price band, SBI Funds Management is valued at around Rs 1.2 lakh crore.
SBI Funds Management has raised Rs 2,663 crore from anchor investors with the issue attracting strong participation from global and domestic institutional investors.
The anchor book saw participation from global investors such as GIC, Abu Dhabi Investment Authority, Capital World Investors, BlackRock, Fidelity Management & Research, Goldman Sachs Asset Management and Norges Bank, alongside leading domestic institutions like Life Insurance Corporation of India (LIC), HDFC Mutual Fund (MF), ICICI Prudential MF, Nippon India MF and HDFC Life Insurance.
Among the largest allocations, HDFC MF and ICICI Prudential MF received shares worth Rs 200 crore each, while Capital World Investors, GIC and LIC were allotted shares worth Rs 180 crore each.
Domestic mutual funds accounted for 37% of the anchor book, with 23 mutual funds investing through 70 schemes.
SBI will sell a 6.3% stake, while Amundi will divest 3.7%. Post listing, SBI's holding will decline to 55.46% from 61.76%, while Amundi's stake will reduce to 32.56%
SBI Funds Management IPO Day One Subscription Status
The SBI Funds Management IPO has been booked 25% as of 11:53 am.
- Qualified Institutional Buyers: 0.00 times
- Non Institutional Investors: 0.39 times
- Retail Individual Investors: 0.29 times
- Employee Reserved: 0.60
SBI Funds Management IPO GMP
The grey market premium (GMP) for SBI Funds Management is Rs 93, updated as of July 14 at 9:29 am. With a price band of Rs 574, the estimated listing price is Rs 667, indicating a potential gain of 16.20% per share.
Note: GMP does not represent official data and is based on speculation.
ALSO READ: SBI Funds Management IPO GMP Today: Grey Market Premium Signals 17% Listing Gains As Issue Opens
About The Company
Established in 1987, SBI Funds Management is India's largest asset management company by quarterly average assets under management (QAAUM), with Rs 12.51 lakh crore in mutual fund QAAUM and a 15.3% market share as of March 31, 2026. Including portfolio management services and alternative investment mandates, the company managed total QAAUM of Rs 29.46 lakh crore at the end of FY26.
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