SBI Funds IPO Subscribed 41.66x; QIBs Lead Bidding
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SBI Funds Management IPO received 41.66 times subscription on closing day, with QIBs bidding 140.11x. The Rs 9,812.91 cr public issue saw strong investor interest.
Illustration: Dominic Xavier/Rediff.com
New Delhi, Jul 16 (PTI) The initial public offering of SBI Funds Management received 41.66 times subscription on the closing day of bidding on Thursday.
The Rs 9,812.91-crore IPO got bids for 5,18,95,47,350 shares as against 12,45,63,536 shares on offer, as per NSE data.
The category for Qualified Institutional Buyers (QIBs) fetched 140.11 times subscription. The portion for non-institutional investors attracted 22.51-times subscription, while the retail segment got subscribed 3.60 times.
SBI Funds Management earlier raised Rs 2,663 crore from anchor investors.
The anchor book saw participation from global investors such as GIC, Abu Dhabi Investment Authority, Capital World Investors, BlackRock, Fidelity Management & Research, Goldman Sachs Asset Management and Norges Bank, alongside leading domestic institutions like Life Insurance Corporation of India (LIC), HDFC Mutual Fund (MF), ICICI Prudential MF, Nippon India MF and HDFC Life Insurance.
The price band for the offer is Rs 545-574 per equity share.
The 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 issue size was earlier proposed at Rs 11,693 crore but was subsequently reduced after the company completed a pre-IPO placement of about Rs 1,880 crore.
At the upper end of the price band, SBI Funds Management is valued at around Rs 1.2 lakh crore.
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 per cent market share as of March 31, 2026.
The Rs 9,812.91-crore IPO got bids for 5,18,95,47,350 shares as against 12,45,63,536 shares on offer, as per NSE data.
The category for Qualified Institutional Buyers (QIBs) fetched 140.11 times subscription. The portion for non-institutional investors attracted 22.51-times subscription, while the retail segment got subscribed 3.60 times.
SBI Funds Management earlier raised Rs 2,663 crore from anchor investors.
The anchor book saw participation from global investors such as GIC, Abu Dhabi Investment Authority, Capital World Investors, BlackRock, Fidelity Management & Research, Goldman Sachs Asset Management and Norges Bank, alongside leading domestic institutions like Life Insurance Corporation of India (LIC), HDFC Mutual Fund (MF), ICICI Prudential MF, Nippon India MF and HDFC Life Insurance.
The price band for the offer is Rs 545-574 per equity share.
The 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 issue size was earlier proposed at Rs 11,693 crore but was subsequently reduced after the company completed a pre-IPO placement of about Rs 1,880 crore.
At the upper end of the price band, SBI Funds Management is valued at around Rs 1.2 lakh crore.
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 per cent market share as of March 31, 2026.
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