SBI Funds Management Sets ₹545–₹574 Price Band for ₹11,692-Crore IPO; Issue Opens July 14

July 10, 2026 Bilkul Bazaar

Snapshot: SBI Funds Management IPO

IPO Opens: Tuesday, July 14, 2026
IPO Closes: Thursday, July 16, 2026
Anchor Investor Bidding: Monday, July 13, 2026
Price Band: ₹545 – ₹574 per equity share
Face Value: ₹1 per equity share
Issue Type: 100% Offer for Sale (OFS)
Issue Size: Up to 203.71 million equity shares
Issue Value: ₹11,102 crore – ₹11,692 crore
Lot Size: 26 equity shares and multiples of 26 thereafter
Employee Discount: ₹54 per share for eligible SBI and SBIFM employees

Company at a Glance

India’s largest Asset Management Company (AMC) by QAAUM
Mutual Fund QAAUM: ₹12.51 lakh crore (as of March 31, 2026)
Mutual Fund Market Share: 15.3%
Total QAAUM (including PMS & advisory): ₹29.46 lakh crore
India’s largest passive fund manager with ₹4.06 lakh crore in ETFs and index funds
Passive Fund Market Share: 27.9%

Growth Highlights

Total QAAUM CAGR (FY24–FY26): 14.22%
Mutual Fund QAAUM CAGR: 16.97%
Equity & Equity-oriented QAAUM CAGR: 21.79%

Promoters

State Bank of India (SBI)
Amundi India Holding
Amundi Asset Management

Lead Managers

Kotak Mahindra Capital, Axis Capital, BofA Securities India, HSBC Securities & Capital Markets (India), ICICI Securities, Jefferies India, JM Financial, Motilal Oswal Investment Advisors, and SBI Capital Markets.

Registrar

KFin Technologies Limited.

Bilkul Bazaar | By Rafat Quadri

Ahmedabad

SBI Funds Management Ltd (SBIFM), India’s largest asset management company by quarterly average mutual fund assets under management (QAAUM), has announced that its much-awaited Initial Public Offering (IPO) will open for public subscription on Tuesday, July 14, 2026, and close on Thursday, July 16, 2026. The company has fixed the price band at ₹545 to ₹574 per equity share of face value ₹1 each.

The IPO is entirely an Offer for Sale (OFS) of up to 203.71 million equity shares, with an estimated issue size ranging between ₹11,102 crore and ₹11,692 crore, depending on the final issue price. The anchor investor bidding will take place on Monday, July 13, 2026. Investors can bid for a minimum of 26 equity shares and in multiples of 26 thereafter.

Addressing the media in Ahmedabad, Debashish Mishra, Managing Director & CEO of SBI Funds Management, and D. P. Singh, Joint Chief Executive Officer, were present in person, while Srinivas Jain, Executive Director & Head of Strategy, joined virtually.

Speaking on the occasion, Debashish Mishra, MD & CEO, SBI Funds Management, said, “SBI Funds Management has built its leadership position over decades by focusing on investor trust, disciplined investment processes and innovation. The IPO marks an important milestone in our journey and provides an opportunity for investors to participate in India’s long-term asset management growth story.”

D. P. Singh, Joint CEO, highlighted the company’s growth trajectory, saying, “India’s mutual fund industry continues to witness strong structural growth driven by increasing financialisation of savings, rising SIP participation and greater investor awareness. With our extensive distribution network and diversified product portfolio, we are well-positioned to capitalise on these long-term opportunities.”

Joining virtually, Srinivas Jain, Executive Director & Head of Strategy, said, “Our leadership in both active and passive investment products reflects our commitment to offering solutions across investor segments. We will continue to strengthen our digital capabilities, expand investor reach and create long-term value for all stakeholders.”

Originally incorporated in 1992, SBI Funds Management is the investment manager to SBI Mutual Fund, India’s first mutual fund established outside the erstwhile Unit Trust of India in 1987. According to the CRISIL Report cited in the Red Herring Prospectus, the company has consistently remained the country’s largest asset management company by QAAUM since March 2021.

As of March 31, 2026, the company managed ₹12.51 lakh crore of mutual fund QAAUM, commanding a 15.3% market share. Including its Portfolio Management Services (PMS) and other advisory mandates, total QAAUM stood at ₹29.46 lakh crore.

SBI Funds Management is also India’s largest passive asset manager, with ₹4.06 lakh crore in exchange-traded funds (ETFs) and index funds, accounting for a 27.9% market share.

The company’s total QAAUM recorded a 14.22% CAGR between March 2024 and March 2026, while mutual fund QAAUM grew at 16.97% CAGR during the same period. Its equity, equity-oriented and equity-hybrid assets expanded even faster, registering a 21.79% CAGR.

The company received approval from the Securities and Exchange Board of India (SEBI) to manage SBI Mutual Fund in 1993. It became a joint venture in 2004 after Société Générale Asset Management acquired a 37% stake. Following the global merger of Société Générale’s and Crédit Agricole’s asset management businesses in 2011, Amundi India Holding, a wholly-owned subsidiary of Amundi Asset Management, acquired the stake and continues as a joint venture partner.

The promoters of the company are State Bank of India (SBI), Amundi India Holding and Amundi Asset Management.

The IPO is being managed by Kotak Mahindra Capital Company Limited, Axis Capital Limited, BofA Securities India Limited, HSBC Securities and Capital Markets (India) Private Limited, ICICI Securities Limited, Jefferies India Private Limited, JM Financial Limited, Motilal Oswal Investment Advisors Limited, and SBI Capital Markets Limited as the book-running lead managers. KFin Technologies Limited is the registrar to the issue.

Under the book-building process, up to 50% of the net offer has been reserved for Qualified Institutional Buyers (QIBs), at least 15% for Non-Institutional Investors (NIIs), and at least 35% for Retail Individual Investors (RIIs). The offer also includes reservation portions for eligible SBI shareholders, SBI employees and SBI Funds Management employees. Eligible employees will receive a discount of ₹54 per equity share.

Disclaimer: This article is for information only and is not investment advice. Please read the IPO documents carefully before investing.

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