The ₹9,813 crore IPO of SBI Funds Management opens for public subscription today, July 14, with a price band of ₹545-574 per share. Following a strong response from global and domestic anchor investors, the asset manager moves forward with an offer-for-sale. The issue will be available for bidding until July 16.
SBI Funds Management, India's largest asset manager, has officially opened its initial public offering (IPO) today, July 14, 2026. The company is looking to raise ₹9,812.9 crore through this public issue, which is scheduled to remain open for subscriptions until July 16. Potential investors can place their bids within a price range of ₹545 to ₹574 per equity share.
The offering is structured entirely as an offer-for-sale. This means that all funds raised from the IPO will go directly to the selling promoters—State Bank of India and Amundi India Holding—rather than into the company’s own balance sheet for business expansion or debt repayment. Because no new shares are being issued, the company's total equity base will remain unchanged after the transaction.
Ahead of the public launch, the company successfully raised ₹2,662.96 crore from 129 anchor investors on July 13. The participation included major global institutions such as BlackRock, Abu Dhabi Investment Authority, Morgan Stanley, Goldman Sachs, Citigroup, and Fidelity. Within the domestic space, significant support came from mutual fund houses like HDFC AMC, ICICI Prudential AMC, and Kotak Mahindra AMC, alongside major insurance players including Life Insurance Corporation and HDFC Life Insurance.
Following a pre-IPO fundraising round of ₹1,880 crore, the total size of this IPO was adjusted downwards from the original plan. The current offer consists of 17.09 crore equity shares. The company has also made special provisions for its workforce and existing shareholders. A dedicated portion of 2.7 lakh shares is reserved for SBI Funds Management employees, while 29.87 lakh shares are set aside for employees of the State Bank of India. Both groups are eligible for a discount of ₹54 per share on the final offer price. Additionally, 1.3 crore shares have been reserved for existing shareholders of the State Bank of India.
As this is an offer-for-sale, the primary investor focus will shift toward the company's profitability, asset-under-management (AUM) growth, and its ability to maintain profit margins in a competitive financial services sector. Investors may track the subscription trends across different categories, such as retail, non-institutional, and qualified institutional buyers, over the next three days to gauge market sentiment before the issue closes on July 16.