SBI Funds Management (SBIFM) Ltd. has unveiled plans for an initial public offering aimed at raising close to Rs 11,700 crore. The company is a partnership between banking major State Bank of India (SBI) and French asset manager Amundi.
"It is proposed that up to 10% of SBIFM's outstanding Equity Shares will be offered for sale, including up to 6.3% by SBI representing up to 128,334,397 Equity Shares and up to 3.7% by Amundi, representing up to 75,374,842 Equity Shares," Amundi told the Euronext stock exchange.
Those planning to invest in the IPO should familiarise themselves with the key information before submitting their bids.
SBI Funds Management IPO GMP Today
The grey market signalled firm demand for the SBI Funds Management IPO, with InvestorGain showing a GMP of Rs 84 at 8:30 a.m. on July 10. That implies a potential listing around Rs 658 per share, a 14.63% gain over the top end of the issue price.
Note: GMP does not represent official data and is based on speculation.
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SBI Funds Management IPO: Offer Size, Price Band, Lot Size
SBI Funds Management is bringing a Rs 11,692.91 crore book-built IPO to the market through an offer-for-sale of 20.37 crore shares.
The issue has been priced between Rs 545 and Rs 574 per share.
A retail application requires one lot comprising 26 shares, with a minimum outlay of Rs 14,924. Small NIIs must apply for at least 14 lots, involving Rs 2,08,936, while Big NIIs need a minimum application of 68 lots, or Rs 10,14,832.
The IPO reserves up to 50% of the shares for Qualified Institutional Buyers. Retail investors will have access to a minimum of 35% of the issue, whereas at least 15% has been earmarked for Non-Institutional Investors.
Kotak Mahindra Capital is the book-running lead manager, while KFin Technologies has been named registrar.
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SBI Funds Management IPO: Important Dates
The SBI Funds IPO will remain open for subscription between July 14 and July 16. Share allotment is likely to be completed on July 17, while successful applicants are expected to receive shares in their demat accounts on July 20. Refunds to unsuccessful bidders will also be processed the same day.
The SBI Funds Management stock is slated to make its market debut on the BSE and NSE on July 21.
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Use Of Proceeds
The public offering has been structured solely as an offer-for-sale, with no fresh equity issuance involved. Consequently, the entire amount raised will go to the selling shareholders rather than SBI Funds Management.
About SBI Funds Management
Backed by State Bank of India and French asset management major Amundi, SBI Funds Management is jointly promoted by the two financial institutions. As per the company's official website, SBI holds a controlling 61.86% interest, Amundi Asset Management owns 36.33% via Amundi India Holding, and the balance 1.81% is with other investors.
Financials
SBI Funds Management ended FY26 on a stronger footing, registering a 20.76% year-on-year rise in profit after tax at Rs 3,067.38 crore. Revenue from operations also witnessed double-digit growth, advancing 22.01% to Rs 4,389.49 crore.
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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