India’s largest asset management company, SBI Funds Management, is set to launch its much-awaited Initial Public Offering (IPO) on July 14, 2026.
The public issue will remain open for subscription until July 16.
The company has fixed the IPO price band at ₹545 to ₹574 per equity share.
Based on the upper price band, SBI Funds Management is targeting a valuation of around ₹1.17 lakh crore.
The shares are expected to be listed on both the NSE and BSE on July 21, while anchor investors will be able to bid on July 13.
IPO Size and Offer Details
At the upper end of the price band, the IPO size is estimated at ₹11,693 crore.
This is an Offer for Sale (OFS), which means SBI Funds Management is not issuing any new shares and will not receive any money from the IPO.
Instead, the existing shareholders are selling part of their stake.
State Bank of India (SBI) will sell up to 12.83 crore shares, reducing its stake by 6.3%.
Amundi India Holding will sell up to 7.54 crore shares, reducing its stake by 3.7%.
Together, the two shareholders will offload around 10% of the company’s paid-up equity capital.
Employees applying for the IPO will receive a discount of ₹54 per share.
Who Is Managing the IPO?
The IPO has nine book-running lead managers, including:
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 registrar for the issue is KFin Technologies.
About SBI Funds Management
SBI Funds Management is a joint venture between State Bank of India (SBI), India’s largest public sector bank, and Amundi, Europe’s largest asset management company.
According to the company’s draft prospectus, it managed assets worth around ₹12.5 lakh crore as of the end of March 2026, making it the largest asset manager in the country.
Investors planning to apply for the IPO should carefully review the company’s financials, valuation, and risk factors before making an investment decision.
