Shares of SBI Funds Management are set to make their stock market debut on Tuesday, July 21. Ahead of the listing, the latest grey market premium (GMP) stood at Rs 102, indicating an expected listing price of around Rs 676 per share, or nearly an 17.77% premium over the upper end of the IPO price band.
Note: A strong grey market premium generally reflects positive sentiment among unofficial market participants. However, GMP is an unofficial indicator and may not accurately predict the stock's actual listing performance. GMP data will be updated at regular intervals.
SBI Funds Management IPO Subscription Demand
The IPO attracted robust investor interest, with the issue being subscribed 41.66 times. Qualified Institutional Buyers led demand, subscribing 140.11 times their quota, while NIIs subscribed 22.51 times and the retail portion was subscribed 3.60 times.
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SBI Funds Management IPO: Key Details
SBI Funds Management raised Rs 9,812.91 crore through the IPO that was made up solely of an offer for sale. Existing investors offloaded 17.1 crore equity shares. The company did not issue any fresh equity as part of the listing.
Shares in the public offering were offered at a price band of Rs 545 to Rs 574 each. Retail bidders had to apply for a minimum lot of 26 shares, which required an investment of Rs 14,924 at the highest price. The minimum application size stood at 14 lots for small NIIs, amounting to Rs 2,08,936, while big NIIs had to bid for no fewer than 68 lots valued at Rs 10,14,832.
The subscription window for the IPO was open from July 14 to July 16. Share allotment was done on July 17 before crediting shares to successful investors' demat accounts on July 20. Those who did not receive an allotment were refunded the same day.
Kotak Mahindra Capital Ltd. is the book-running lead manager and KFin Technologies Ltd. is the registrar of the issue.
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Use Of Proceeds
The public issue was made up entirely of an offer for sale, with no fresh equity being issued by SBI Funds Management. This meant the company itself was not expected to receive any capital, as the proceeds were meant for the selling shareholders.
Financials
The company reported a 20.76% year-on-year (YoY) jump in profit after tax (PAT) to Rs 3,067.38 crore in FY26 from Rs 2,540.15 crore in FY25. Revenue from operations rose 22.01% YoY to Rs 4,389.49 crore in FY26 from Rs 3,597.76 crore in FY25.
About SBI Funds Management
State Bank of India and France-headquartered Amundi are the joint owners of SBI Funds Management. The company manages SBI Mutual Fund.
Disclaimer: Investments in initial public offerings are subject to market risks. Please consult with financial advisors and read red herring prospectus thoroughly before placing bids.
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