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SBI Funds Management's ₹11,693cr IPO opens tomorrow
13 Jul 2026

SBI Funds Management Ltd, India's largest asset management company, will launch its initial public offering (IPO) tomorrow. The issue is expected to raise ₹11,692.91 crore.

The IPO will remain open for subscription till July 16 and has generated strong interest in the gray market.

According to Investorgain, a market tracking platform, the gray market premium (GMP) is at ₹89 per share, indicating a potential listing gain of nearly 16% over the upper end of the price band.

IPO price band
Pricing details

The company has set the IPO price band at ₹545-574 per equity share.

The public issue is a complete Offer for Sale (OFS) of 20.37 crore equity shares, meaning the company won't get any money from the offering.

The entire amount will go to selling shareholders, State Bank of India (SBI) and Amundi India Holding.

SBI will sell up to 12.83 crore shares while Amundi will offload up to 7.54 crore shares, according to offer documents.

Pre-IPO placement raised ₹1,655 crore
Investor interest

Before the public launch, SBI Funds Management raised ₹1,655 crore through a pre-IPO placement.

The company allotted 2.88 crore equity shares to 30 marquee institutional investors in this transaction, which was completed on July 10 at the upper end of the price band.

Notable participants included Azim Premji-backed PI Opportunities Fund and investor Akash Manek Bhanshali, who each bought shares worth ₹200 crore.

Retail investors can bid for a minimum of 26 shares
Subscription specifics

The IPO will open for public subscription on July 14 and close on July 16.

The basis of allotment is likely to be finalized on July 17, with shares tentatively set to debut on the NSE and BSE on July 21.

Retail investors can bid for a minimum of 26 shares, translating into an investment of ₹14,924 at the upper price band.

Issue details
Share allocation

Of the net offer, 50% has been reserved for qualified institutional buyers (QIBs), 15% for non-institutional investors (NIIs), and 35% for retail investors (RIIs).

The company has also reserved 1.3 crore shares for eligible SBI shareholders and shares worth ₹170 crore for eligible employees at a discount of ₹54 per share.

SBI Funds Management's financial performance in FY26
Financial growth

SBI Funds Management reported a 21% year-on-year rise in net profit to ₹3,068 crore in FY26, up from ₹2,540 crore in FY25.

The company's revenue from operations grew to ₹4,389 crore in FY26 from ₹3,598 crore in FY25, a growth of 22%.

Established in 1992 as the investment manager for SBI Mutual Fund, the company managed assets worth approximately ₹16.32 lakh crore as of 2025, holding a 15.5% market share of India's mutual fund industry.