Shares of SBI Funds Management, India’s largest asset management company, made a strong debut on the stock market today. The stock was listed at ₹613.30 on the NSE and ₹610 on the BSE.
Since the IPO price was fixed at ₹574 per share, investors received a listing gain of ₹39.30 per share on the NSE.
SBI Funds IPO Received Strong Demand
The SBI Funds Management IPO was open from July 14 to July 16 with a price band of ₹545 to ₹574 per share.
The issue was entirely an Offer for Sale (OFS), which means the company did not issue any new shares.
The IPO received an excellent response from investors. Overall, it was subscribed 41.73 times.
Retail investors: 3.76 times
Qualified Institutional Buyers (QIBs): 140.11 times
Non-Institutional Investors (NIIs): 22.51 times
Promoters Received the IPO Proceeds
As the IPO was an Offer for Sale, the money raised went to the existing promoters instead of the company.
SBI sold 99.5 million shares.
Amundi India Holding sold 71.45 million shares.
After the sale, SBI’s stake in the company stands at 60.32%, while Amundi holds 36.06%.
Global Investors Backed the IPO
SBI Funds Management raised ₹2,662.96 crore from anchor investors before the IPO opened.
A total of 129 anchor investors participated, including major global names such as BlackRock, Abu Dhabi Investment Authority (ADIA), Morgan Stanley, Goldman Sachs, and the Massachusetts Institute of Technology (MIT).
India’s Largest Asset Management Company
Founded in 1987, SBI Funds Management is currently India’s largest asset management company based on quarterly average Assets Under Management (AUM).
As of March 31, 2026, the company managed ₹12.51 lakh crore in assets and held a 15.3% share of the Indian mutual fund market.
