SBI Funds Management IPO: Price band set at ₹545-574 per share; check key dates, issue details

SBI Funds Management IPO price band: The SBI Funds Management Limited IPO price band has been fixed in the range of ₹545 to ₹574 per equity share of the face value of Re 1. The SBI Funds Management IPO date of subscription is scheduled for Tuesday, 14 July and will close on Thursday, 16 July. The allocation to anchor investors for the SBI Funds Management IPO is scheduled to take place on Monday, 13 July.

The SBI Funds Management IPO lot size is 26 equity shares and in multiples of 26 equity shares thereafter.

SBI Funds Management IPO has reserved not more than 50% of the shares in the public issue for qualified institutional buyers (QIB), not less than 15% for non-institutional Institutional Investors (NII), and not less than 35% of the offer is reserved for retail investors. A discount of ₹54 per equity share is being offered to the eligible employees.

Tentatively, SBI Funds Management IPO basis of allotment of shares will be finalised on Friday, 17 July and the company will initiate refunds on Monday, 20 July, while the shares will be credited to the demat account of allottees on the same day following refund. SBI Funds Management share price is likely to be listed on BSE and NSE on Tuesday, 21 July.

SBI Funds Management IPO details

The IPO is entirely an offer for sale (OFS) of equity shares worth up to ₹11,102 crore by existing promoters State Bank of India (SBI) and Amundi India Holding.

As part of the offer, SBI will offload up to 12.83 crore shares, representing a 6.3% stake, while Amundi India Holding will sell up to 7.56 crore shares, equivalent to a 3.7% stake. Together, the two promoters currently own nearly 98% of SBI Funds Management.

SBI currently holds 126 crore shares, representing a 61.73% stake, which it acquired at a weighted-average cost of ₹0.15 per share, for an investment of about ₹19 crore. At the upper end of the IPO price band, the value of SBI's holding is estimated at around ₹68,670 crore, implying an appreciation of nearly 3,600 times its original investment.

Amundi India Holding owns 74 crore shares, representing a 36.26% stake, acquired at a weighted-average cost of ₹4.35 per share, for a total investment of around ₹322 crore. At the upper end of the price band, the value of its stake is estimated at approximately ₹40,330 crore, representing an increase of nearly 125 times its acquisition cost.

The IPO is being managed by a consortium of book-running lead managers comprising 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, and SBI Capital Markets.

SBI Funds Management is India's oldest asset management company and serves as the investment manager for SBI Mutual Fund, which commenced operations in June 1987 as the country's first mutual fund established outside the Unit Trust of India.

According to the draft papers, the company is also India's largest passive asset manager, with exchange-traded funds (ETFs) and index funds accounting for ₹3,99,953 crore in passive quarterly average assets under management (QAAUM) and a 29.6% market share as of 31 December 2025.

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