Asset manager SBI Funds Management is set to make its stock market debut with an IPO valued at almost Rs 11,700 crore on Tuesday, July 14. It is a joint venture between State Bank of India and France-headquartered Amundi.
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.
State Bank of India has revised the proportion of shares it will sell in the SBI Funds Management IPO and reduced it to 4.89%, according to an exchange filing on Saturday.
The filing stated
"The size of the offer for sale by the State Bank of India in the IPO has been revised from up to 128,334,397 Equity Shares (amounting to 6.3007% of the paid-up equity share capital of SBIFM) to up to 99,501,649 Equity Shares (amounting to 4.8851% of the paid-up equity share capital of SBIFM)
Ahead of its launch, the unlisted shares of SBI Funds Management have been trading at a premium in the grey market, indicating positive listing gains when the stock debuts on the markets next week.
SBI Funds Management IPO GMP Today
According to InvestorGain, the GMP for the SBI Funds Management IPO stood at Rs 89 as of 7:30 a.m. on July 13. It indicates a listing price of Rs 663 apiece at a premium of 15.51% on the upper limit of the price band.
The highest GMP recorded for the IPO was Rs 140 and the lowest was Rs 75.
Note: GMP does not represent official data and is based on speculation.
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SBI Funds Management IPO: Key Details
- 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
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Allocation Breakdown
- Qualified institutional buyers (QIBs): 50%
- Large HNIs (non-institutional): 10%
- Small HNIs (non-institutional): 5%
- Retail individual bidders: 35%
The shares of SBI Funds Management are expected to begin trading on the BSE and NSE on Tuesday, July 21.
Kotak Mahindra Capital Ltd. is the book-running lead manager and KFin Technologies Ltd. is the registrar of the issue.
Use Of Proceeds
As the IPO consists entirely of an offer-for-sale, SBI Funds Management will not receive any capital from the public issue. The proceeds will instead accrue to the existing shareholders divesting their stakes.
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.
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.
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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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