Shares of SBI Funds Management Ltd., fell over 3% on Wednesday with the stock trading Rs 592 apiece. This comes a day after the company's listing on the Indian stock exchanges BSE and NSE. Shares of SBI Funds Management on Tuesday ended with a premium of over 6% against the issue price of Rs 574.
The stock started trading at Rs 610, up 6.27% from the issue price on the BSE. During the day, it jumped 8.88% to Rs 625. Shares of the firm finally ended at Rs 610, up 6.25%
At the NSE, the stock listed at Rs 613.30, registering a premium of 6.84%. It ended at Rs 609.75, a jump of 6.22%
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The asset management arm of State Bank of India commanded a market valuation of Rs 1,24,226.12 crore, emerging as the second most valuable listed AMC (Asset Management Company). In traded volume terms, 91.23 lakh shares of the firm were traded at the BSE, and 848.49 lakh shares were traded at the NSE.
The initial public offering of SBI Funds Management received 41.66 times subscription on the closing day of bidding on Thursday last week.
The Rs 9,812.91-crore IPO had a price band of Rs 545-574 per equity share.
The public issue was entirely an offer-for-sale (OFS) of up to 17.09 crore equity shares by existing shareholders -- State Bank of India (SBI) and Amundi, a global asset manager.
Set up 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 funds and a 15.3% market share as of March 31, 2026.
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