The company’s IPO, which closed for subscription on July 16, 2026, raised ₹9,812.91 crore from the markets. The issue received robust investor participation and was oversubscribed more than 46 times.
If the current grey market trend sustains, investors allotted shares in the IPO could see gains of ₹104 per share on listing. For a lot size of 26 shares, the potential gain works out to ₹2,704.
SBI Funds Management IPO details
The public issue was entirely an offer for sale (OFS), with promoters State Bank of India (SBI) and Amundi India Holding selling a combined 171 million equity shares.
The issue was priced in the range of ₹545-₹574 per share, with a lot size of 26 shares. The public offering was open for subscription from July 14 to July 16, 2026.
The IPO received strong demand from investors and was subscribed 41.66 times, according to NSE data. Qualified institutional buyers (QIBs) oversubscribed their allocated portion by 140.11 times. The non-institutional investor category received 22.51 times subscription, while the retail investor segment was subscribed 3.60 times.
The basis of allotment was finalised on Friday, July 17, following which the company fixed the issue price at ₹574 per share.
Since the issue was completely an OFS, SBI Funds Management will not receive any proceeds from the share sale. The proceeds will accrue to the selling shareholders after deducting offer-related expenses and applicable taxes.
Kotak Mahindra Capital Company, Axis Capital, BofA Securities India, HSBC Securities and Capital Markets (India), ICICI Securities, Jefferies India, JM Financial, Motilal Oswal Investment Advisors, and SBI Capital Markets acted as the book-running lead managers for the issue. KFin Technologies is the registrar.
About SBI Funds Management
Incorporated in 1992, SBI Funds Management is India’s largest asset management company by mutual fund quarterly average assets under management (QAAUM).
As of March 31, 2026, the company managed mutual fund QAAUM of ₹12,50,998 crore, accounting for a 15.3 per cent market share.
The company is the investment manager to SBI Mutual Fund, India’s first mutual fund established outside Unit Trust of India, and has maintained its leadership position in the domestic mutual fund industry since March 2021.