SBI Funds Management IPO Gets 68% Subscription on Day 1

New Delhi, Jul 14 (PTI) The initial public offer of SBI Funds Management Ltd received 68 per cent subscription on the first day of bidding on Tuesday.

The Rs 9,812.91-crore IPO got bids for 8,50,65,136 shares against 12,45,63,536 shares on offer, according to NSE data.

The category for non-institutional investors saw 1.39 times subscription, while the portion for retail investors got subscribed 62 per cent. Qualified Institutional Buyers (QIBs) received 8 per cent subscription.

SBI Funds Management has 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 IPO will close on July 16. The price band has been fixed at 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.

SBI will sell a 6.3 per cent stake, while Amundi will divest 3.7 per cent.

Post listing, SBI's holding will decline to 55.46 per cent from 61.76 per cent, while Amundi's stake will reduce to 32.56 per cent.

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.