SBI Funds Management has fixed the price band at ₹545–574 per share for its ₹11,102 crore initial public offering (IPO). The public issue will open for subscription on July 14, 2026, while anchor investor bidding will take place on July 13, 2026. The IPO will close on July 16, 2026.
At the upper end of the price band, the company is expected to command a post-listing market capitalisation of around ₹1.17 lakh crore.
Here are the key details of the IPO:
Particulars | Details |
IPO Opening Date | July 14, 2026 |
IPO Closing Date | July 16, 2026 |
Anchor Investor Bidding | July 13, 2026 |
Price Band | ₹545–574 per share |
Issue Size | Up to ₹11,102 crore |
Issue Type | Offer for Sale (OFS) |
Expected Allotment | July 18, 2026 |
Refund Initiation | July 20, 2026 |
Shares Credited to Demat | July 20, 2026 |
Tentative Listing Date | July 21, 2026 |
The IPO is entirely an Offer for Sale (OFS) by the company's existing promoters:
State Bank of India (SBI) will sell up to 12.83 crore shares, representing a 6.3% stake.
Amundi India Holding will sell up to 7.56 crore shares, representing a 3.7% stake.
Together, SBI and Amundi currently own approximately 98% of SBI Funds Management.
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SBI currently holds 126 crore shares, equivalent to a 61.73% stake, acquired at a weighted average cost of ₹0.15 per share, with a total investment of around ₹19 crore. At the upper end of the IPO price band, the value of SBI's holding is estimated at ₹68,670 crore, representing an increase of nearly 3,600 times.
Amundi India Holding owns 74 crore shares, or a 36.26% stake, acquired at a weighted average cost of ₹4.35 per share, with an investment value of approximately ₹322 crore. Based on the upper price band, the value of its holding is estimated at ₹40,330 crore, reflecting an increase of nearly 125 times.
According to the company's draft papers, SBI Funds Management is the largest asset management company in India based on quarterly average assets under management (QAAUM).
As of December 31, 2025, the company reported:
Mutual Fund QAAUM: ₹12,49,970 crore
Mutual Fund Market Share: 15.4%
Total QAAUM (including PMS and advisory mandates): ₹29,04,026 crore
The company is also India's oldest asset management company, serving as the investment manager to SBI Mutual Fund, which commenced operations in June 1987 as the first mutual fund established outside the Unit Trust of India.
Additionally, SBI Funds Management is India's largest passive asset manager, managing ₹3,99,953 crore in passive QAAUM with a 29.6% market share across exchange-traded funds (ETFs) and index funds as of December 31, 2025.
The book-running lead managers to the issue are:
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
SBI Capital Markets
The SBI Funds Management IPO will open for subscription on July 14, 2026, with a price band of ₹545–574 per share. The ₹11,102 crore public issue is entirely an Offer for Sale by SBI and Amundi India Holding.
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Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. This does not constitute a personal recommendation/investment advice. It does not aim to influence any individual or entity to make investment decisions. Recipients should conduct their own research and assessments to form an independent opinion about investment decisions.
Investments in the securities market are subject to market risks, read all the related documents carefully before investing.
Published on: Jul 9, 2026, 1:06 PM IST
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