India’s largest asset management company, SBI Funds Management, is ready to launch its much-awaited ₹11,600 crore IPO.
The public issue is expected to be one of the biggest IPOs of 2026 as activity in the primary market continues to gain pace.
Before the IPO launch, parent company State Bank of India (SBI) sold a 1.42% stake in SBI Funds Management to 30 institutional investors for ₹1,655 crore through a pre-IPO placement.
The shares were sold at ₹574 per share, which is the upper limit of the IPO price band, showing strong interest from institutional investors.
SBI Funds Management IPO Dates and Price Details
The SBI Funds Management IPO will open for subscription on:
Opening Date: July 14, 2026
Closing Date: July 16, 2026
The allotment process is expected to be completed on July 17, while refunds and share credits for successful investors are likely on July 20.
The company is expected to list its shares on both the BSE and NSE on July 21, 2026.
The IPO price band has been fixed at:
Lower Price: ₹545 per share
Upper Price: ₹574 per share
The pre-IPO share sale was also conducted at ₹574 per share, indicating strong demand ahead of the issue.
IPO Size and Share Sale Details
The SBI Funds Management IPO is completely an Offer for Sale (OFS) issue worth around ₹11,600 crore.
This means the company itself will not receive any money from the IPO. Instead, existing shareholders will sell their stake.
Under the offer:
State Bank of India (SBI) will sell up to 12.83 crore shares.
Amundi India Holding will sell up to 7.54 crore shares.
Together, both shareholders will sell around 10% of the company’s paid-up equity capital.
At the highest price band of ₹574 per share, SBI Funds Management will have an estimated valuation of around ₹1.17 lakh crore.
SBI Funds Management IPO GMP and Expected Listing Gain
According to market observers, SBI Funds Management shares were trading at a Grey Market Premium (GMP) of around ₹108 per share before the IPO.
Based on the upper price band of ₹574, the estimated listing price could be around ₹682 per share.
This suggests a possible listing gain of nearly 18.8%.
However, investors should remember that the grey market is unofficial, and GMP can change depending on market sentiment.
Who Invested in the Pre-IPO Placement?
SBI sold around 2.88 crore shares, representing a 1.415% stake, to 30 institutional investors for ₹1,655 crore.
Some investors who participated in the pre-IPO placement include:
360 ONE Funds
Tata AIG General Insurance Company
Go Digit General Insurance
Bennett Coleman
Anand Rathi Global Finance
Capri Global Ventures
Carnelian Bharat Amritkaal Fund
About SBI Funds Management
SBI Funds Management is India’s largest asset management company, managing assets worth more than ₹13 lakh crore.
The company is a joint venture between State Bank of India and Amundi, Europe’s largest asset manager.
Apart from managing mutual funds, the company also handles investments for EPFO and is expanding its international asset management business.
SBI Funds Management plans to increase its international assets under management to USD 5 billion in the next three years while expanding operations in areas like GIFT City and alternative investments.
With its strong market position and large asset base, the IPO is expected to attract significant attention from investors.
