Mumbai, July 2026: SBI Funds Management Limited has set the price band for its much-awaited initial public offering (IPO) at ₹545 to ₹574 per equity share. The public issue is expected to raise approximately ₹11,693 crore at the upper end of the price band, making it one of the largest IPOs in India in 2026.
The IPO is scheduled to open for public subscription on July 14, 2026, and close on July 16, 2026. The company’s shares are expected to be listed on the stock exchanges on July 21, 2026, subject to the completion of the allotment and listing process.
IPO Price Band and Issue Size
The company has fixed the lower end of the price range at ₹545 per share and the upper end at ₹574 per share. Investors can submit bids within this price range during the subscription period.
At the upper price of ₹574 per share, the IPO is expected to raise nearly ₹11,693 crore. The pricing could give SBI Funds Management a valuation of up to approximately ₹1.17 lakh crore.
IPO Is Entirely an Offer for Sale
The SBI Funds Management IPO is structured entirely as an Offer for Sale (OFS). This means the company will not issue new shares and will not directly receive money from the IPO.
Instead, the existing shareholders—State Bank of India and Amundi India Holding—will sell part of their ownership to public investors. The money raised through the IPO will go to the selling shareholders after applicable expenses.
The two promoters are expected to offer more than 20.3 crore equity shares through the public issue. SBI plans to sell up to approximately 12.83 crore shares, while Amundi India Holding is expected to offer up to around 7.54 crore shares. Together, the sale represents nearly 10% of the company’s equity.
Pre-IPO Placement Attracts Major Investors
Before the public offering, SBI completed a pre-IPO placement involving a 1.42% stake in SBI Funds Management. Around 2.88 crore shares were sold at ₹574 each, the upper end of the IPO price band.
The placement raised approximately ₹1,655 crore and attracted about 30 investors. The participation of major institutional investors indicated strong interest ahead of the public issue.
About SBI Funds Management
SBI Funds Management operates the investment-management business associated with SBI Mutual Fund. The company offers several types of investment products, including equity funds, debt funds, hybrid schemes, exchange-traded funds and other investment solutions.
The company benefits from SBI’s large banking network, established brand and wide customer reach. It also receives support from Amundi, a major global asset-management company.
SBI Funds Management is jointly owned by SBI and Amundi India Holding. The IPO will allow both promoters to reduce a portion of their holdings while bringing the asset-management company into the public market.
Valuation of the IPO
Based on the price band of ₹545–₹574 per share, the IPO reportedly values SBI Funds Management at approximately 36 to 38 times its FY2026 earnings. Investors may compare this valuation with other listed asset-management companies before deciding whether to apply.
The final valuation will depend on the issue price selected after the bidding process. Demand from institutional investors, non-institutional investors and retail investors may influence the final pricing and subscription levels.
Why the IPO Is Important
The SBI Funds Management IPO is significant because of the company’s large presence in India’s mutual-fund industry and its association with one of the country’s biggest banking brands.
The public issue will provide investors with an opportunity to own shares in a major asset-management company. It may also increase the company’s public visibility and broaden its shareholder base.
The IPO comes as India’s mutual-fund industry continues to expand, supported by rising participation from retail investors and increasing awareness of systematic investment plans and market-linked financial products.
Grey Market Interest
Reports indicate that SBI Funds Management shares have attracted interest in the unofficial grey market before the IPO. However, the grey market premium can change rapidly and is not regulated by stock-market authorities. It should not be treated as a guaranteed indication of the listing price or future returns.
c.
