SBI Funds Management Ltd has announced that its maiden initial public offering (IPO) will open for public subscription on July 14 and close on July 16, with a price band fixed at Rs 545 to Rs 574 per equity share of face value Re 1. The anchor investor bidding will take place on July 13. Investors can bid for a minimum of 26 equity shares and in multiples of 26 thereafter. The IPO is entirely an offer-for-sale (OFS) of up to 203.71 million equity shares, with the total issue size estimated at around Rs 11,102 crore at the lower end and Rs 11,692 crore at the upper end of the price band.
Originally incorporated in 1992, SBI Funds Management is India’s largest asset management company by quarterly average mutual fund assets under management (QAAUM), managing Rs 12.51 lakh crore in mutual fund assets with a 15.3 per cent market share as of March 31, 2026, according to a CRISIL report. Including portfolio management services and other advisory mandates, its total QAAUM stood at Rs 29.46 lakh crore. The company is also India’s largest passive asset manager with a 27.9 per cent market share and has maintained leadership in both segments since March 2021. Its promoters are State Bank of India, Amundi India Holding and Amundi Asset Management. In Guwahati, the IPO is expected to attract strong interest from retail investors, high-net-worth individuals and market participants across Assam, reflecting the region’s growing participation in equity markets. Financial advisors and brokerage firms in Guwahati anticipate healthy demand for the issue, supported by the company’s market leadership, established brand and increasing investor awareness of mutual funds and capital market investments in the Northeast.
Kotak Mahindra Capital Company, Axis Capital, BofA Securities India, HSBC Securities and Capital Markets (India), ICICI Securities, Jefferies India, JM Financial, MotilalOswal Investment Advisors and SBI Capital Markets are the book-running lead managers, while KFin Technologies is the registrar to the issue. The offer is being made through the book-building process, with reservations for eligible SBI shareholders, SBI Funds Management employees and SBI employees, who will receive a discount of Rs 54 per equity share under the employee reservation category.