SBI Funds Management fixes IPO price band at Rs 545-574, issue opens July 14
New Delhi, July 13
SBI Funds Management Ltd has fixed the price band for its initial public offering at Rs 545-574 per equity share, with the public issue set to open for subscription on July 14, as per a statement by the public sector lender.
The IPO will remain open for subscription till July 16, Thursday. As per the release, investors can bid for a minimum of 26 equity shares and in multiples of 26 equity shares thereafter.
The price band is set in the range of Rs 545 to Rs 574 per equity share of face value Rs 1/- each, as per the release.
"The Initial Public Offering ("IPO" or "Offer") of the Company will open on Tuesday, 14 July, 2026, for subscription and close on Thursday, 16 July, 2026. Investors can bid for a minimum of 26 equity shares and in multiples of 26 equity shares thereafter," the release added.
According to the release, the IPO is an offer-for-sale for up to 203,709,239 equity shares of face value of Rs 1 each.
The company has raised around Rs 1,656 crore through a pre-IPO placement. According to a corporate filing by the State Bank of India dated July 9, 2026, SBI Funds Management allotted 2.88 crore equity shares at Rs 574 apiece to a group of anchor investors.
According to the release, at the upper end of the price band of Rs 574 per share, the IPO is valued at approximately Rs 11,692 crore, while at the lower end of Rs 545 per share, the issue size valued at around Rs 11,102 crore.
The pre-IPO round saw participation from investors including 3P India Equity Fund 1, Tata AIG General Insurance Company Limited, Dymon Asia Multi-Strategy Investment (Singapore) Pte. Ltd., and Bennett Coleman & Co. Ltd.
Following the allotment of 2.88 crore equity shares, the company's paid-up equity share capital increased to 17.49 crore shares from 14.60 crore shares prior to the placement. At the upper end of the price band of Rs 574 per share, the IPO is estimated to be worth about Rs 9,795 crore.
"The Offer is being made through the book-building process, wherein not more than 50% of the net offer is allocated to qualified institutional buyers, and not less than 15% and 35% of the net offer is assigned to non-institutional bidders and retail individual bidders respectively," the release added.
As per the release, SBI Funds Management Ltd has a QAAUM of Rs 12,509.98 billion and a mutual fund market share of 15.3 per cent as of March 31, 2026.
— ANI
Reader Comments
Finally, SBI Mutual Fund is coming to the market! This has been long awaited. The Rs 1,656 crore pre-IPO placement with big names like 3P India and Tata AIG shows confidence. I'm definitely applying for the retail quota. Let's see if it lists at a premium! 🚀
Hmm, the offer-for-sale structure means existing shareholders are selling, so no new money comes to the company for growth. This might limit upside for retail investors. Better to wait and watch how it trades post-listing rather than rushing in.
This is a great move for SBI - the largest PSU mutual fund getting listed will bring more transparency. The 15% market share is impressive. However, with the IPO opening for only 3 days, don't forget to check the grey market premium before applying. 🙏
The anchor investors including Bennett Coleman & Co Ltd (Times Group) gives some comfort. But at Rs 11,692 crore valuation, it's not cheap. For long-term investors who believe in Indian mutual fund growth story, this could be a decent addition. Just don't expect bumper listing gains.
A 50% allocation to QIBs means institutions will get the lion's share. Retail gets only 35%. With high demand expected, our chances of getting full allotment are slim. Still, I'll apply for 1 lot - chhoti si umeed rakhte hain! 😊
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