SBI Funds Management (SBI Funds) made a strong debut on the stock exchanges on Tuesday, listing at Rs 610 on the BSE, a 6.3% gain over its IPO price of Rs 574, amid a volatile trading session. The stock ended the day at Rs 609.90, translating into a 6.25% gain for IPO investors.
The markets, overall, were choppy today. The benchmark BSE Sensex and Nifty 50 fell 238 points and 51 points, respectively, during the session.
The issue’s performance ranks sixth in terms of listing gains among the 15 large public issues with an issue size of over Rs 10,000 crore. The list also includes the recently listed ICICI Prudential AMC, which posted listing gains of 20.4%. Among issues listed in 2026, SBI Funds ranked tenth out of 32 IPOs listed during the calendar year so far.
Among the eight listed asset management companies (AMCs), SBI Funds now ranks second by market capitalisation at Rs 1.24 lakh crore, behind ICICI Prudential AMC, which leads the segment with a market capitalisation of Rs 1.56 lakh crore.
Ahead of its listing, the SBI Funds IPO had received an overwhelming response, with the issue subscribed 41.66 times across investor categories. The issue received bids worth nearly Rs 3 lakh crore against the offer-for-sale size of Rs 7,150 crore. The issue was subscribed 140.11 times by qualified institutional buyers (QIBs), 22.51 times by non-institutional investors and 3.6 times by retail individual investors.
Commenting on the listing, Challa Sreenivasulu Setty, chairman of State Bank of India and SBI Funds Management, said, “The listing of SBI Funds Management marks a defining milestone in the company’s journey and reflects the trust that millions of investors have placed in us over the years.”
He added that as a listed company, SBI Funds was entering a new phase of responsibility and accountability. “Guided by the highest standards of governance and transparency, we remain committed to creating long-term value for our shareholders while helping millions of Indians achieve their financial aspirations through disciplined investing,” Setty said.