The initial public offering (IPO) of State Bank of India’s asset management arm, SBI Funds Management Ltd (SBIFM), will open for subscription today, i.e., July 14, 2026. Ahead of this, the firm raised Rs 2,663 crore from anchor investors, with the issue attracting strong participation from global and domestic institutional investors. The company’s Rs 9,795-crore public issue is entirely an offer for sale (OFS) of up to 17.09 crore equity shares by existing shareholders State Bank of India (SBI) and Amundi. The price band has been fixed at Rs 545-574 per equity share, and investors will be able to bid for a minimum of 26 shares, in multiples thereof. Earlier, the issue size was proposed at Rs 11,693 crore but was subsequently reduced after the company completed a pre-IPO placement of about Rs 1,880 crore.
SBI Funds Management IPO Subscription Date
SBI Funds Management IPO will open for public subscription today, and the three-day window will close on July 16, 2026.
SBI Funds Management IPO GMP Today
According to Investorgain, SBI Funds Management’s unlisted shares are trading at a grey market premium (GMP) of Rs 100. Considering the upper price band of Rs 574, the company’s shares are expected to list at around Rs 674, reflecting a grey market premium of 17.42 per cent.
One of the larget IPO in recent times
One of the largest IPOs in recent times, SBI Funds Management is set to be succeeded by mega issuances from the largest stock exchange, NSE and telco Jio Platforms.
Ahead of the IPO, State Bank of India sold a 1.42 per cent stake in its asset management arm to 30 investors for Rs 1,655 crore in a pre-IPO placement round. The lender sold the stake at Rs 574 per share, which is also the higher end of the IPO price band, according to an exchange filing.
The largest public-sector lender sold the shares to investors, including 360 ONE funds, Tata AIG General Insurance Company, Go Digit General Insurance, Bennett Coleman, Anand Rathi Global Finance, Capri Global Ventures, and Carnelian Bharat Amritkaal Fund.
Established 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 fund QAAUM and a 15.3 per cent market share as of March 31, 2026.
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(This article is for informational purposes only and should not be construed as investment, financial, or other advice.)
