Mumbai | SBI Funds Management Ltd has fixed the price band of ₹ 545 to ₹ 574 per Equity Share of face value ₹1/- each for its maiden initial public offer.
The Initial Public Offering (“IPO” or “Offer”) of the Company will open on Tuesday, 14 July, 2026, for subscription and close on Thursday, 16 July, 2026. Investors can bid for a minimum of 26 Equity Shares and in multiples of 26 Equity Shares thereafter.
The IPO is an offer-for-sale for up to 203,709,239 Equity shares of face value of ₹1 each.
The Anchor Investor Bid/ Offer Opens and Closes on Monday, July 13, 2026.
Notes for Reference:
Issue Size of the IPO based on the upper and lower end of the price band
Lower Band (@ Rs 545) Rs 11,102 crore OFS (up to 203,709,239 equity shares)
Total Issue Size Rs 11,692 crore
Upper Band (@ Rs 574) Rs 11,102 crore OFS (up to 203,709,239 equity
Total Issue Size Rs 11,692 crore
Originally incorporated in 1992, the company is the largest asset management company (“AMC”) in India by quarterly average mutual fund assets under management (“QAAUM”), with QAAUM of ₹12,509.98 billion and a mutual fund market share of 15.3% as of March 31, 2026, a position that it has consistently held since March 2021 (Source: CRISIL Report, paragraph 1, page 209). Including its Portfolio Management Services (“PMS”) and other advisory mandates (collectively with PMS, “Alternates”), its total QAAUM was ₹29,461.05 billion as at March 31, 2026. The company is India’s oldest AMC, acting as the investment manager to SBI Mutual Fund, which commenced operations in June 1987 as the first mutual fund entity outside the Unit Trust of India (Source: CRISIL Report, paragraph 1, page 216).
The company is also India’s largest passive (exchange traded fund (“ETF”) and index funds) asset manager with passive (ETF and index funds) QAAUM of ₹4,055.26 billion representing a market share of 27.9% as at March 31, 2026, a leadership position it has held since March 2021 (Source: CRISIL Report, paragraph 1, page 210).
Its total QAAUM has grown at a compound annual growth rate (“CAGR”) of 14.22% between March 31, 2024, and March 31, 2026, while its mutual fund QAAUM has grown at a CAGR of 16.97% during the same period.
The company’s equity, equity-oriented and equity-hybrids (excluding arbitrage and including overseas fund of funds) QAAUM grew at a CAGR of 21.79% during the same period.
The company received SEBI’s approval to act as the asset management to SBI Mutual Fund in 1993. In 2004, the company became a joint venture when Société Générale Asset Management S.A. acquired a 37% stake in the company. Following the merger in 2011 of Crédit Agricole’s and Société Générale’s asset management businesses, Amundi India Holding, a wholly owned subsidiary of Amundi Asset Management, acquired the shareholding previously held by Société Générale Asset Management S.A., and continued operating as a joint venture.
The promoters of the company are State Bank of India (“SBI”), Amundi India Holding and Amundi Asset Management.
Kotak Mahindra Capital Company Limited, Axis Capital Limited, BofA Securities India Limited, HSBC Securities and Capital Markets (India) Private Limited, ICICI Securities Limited, Jefferies India Private Limited, JM Financial Limited, Motilal Oswal Investment Advisors Limited, and SBI Capital Markets Limited are the book-running lead managers, and KFin Technologies Limited is the registrar of the Offer.
The Offer is being made through the book-building process, wherein not more than 50% of the net offer is allocated to qualified institutional buyers, and not less than 15% and 35% of the net offer is assigned to non-institutional bidders and retail individual bidders respectively. In addition, the Offer also includes reservations for eligible SBI shareholders and eligible SBIFM employees and SBI employees. Eligible SBIFM employees and SBI employees bidding in the Employee Reservation Portion are being offered a discount of ₹54 per Equity Share.