The initial public offering (IPO) of SBI Funds Management will open on July 14 and is estimated to raise ₹11,693 crore from the primary market. The issue will close on July 16, and is set to be the largest IPO of 2026 so far
SBI Funds Management IPO price band has been set at ₹545 – ₹574 per share. The issue comprises an offer for sale (OFS) of over 20.37 crore equity shares by promoters State Bank of India (SBI) and Amundi India Holding.
SBI will offload up to 12,83,34,397 equity shares, representing 6.3% of SBI Funds Management’s paid-up equity share capital, while Amundi India Holding will sell up to 7,53,74,842 shares, equivalent to a 3.7% stake in the OFS.
As per the allocation structure, up to 50% of the issue has been reserved for Qualified Institutional Buyers (QIBs), 35% for Retail Individual Investors (RIIs), and 15% for Non-Institutional Investors (NIIs).
What portion is reserved for SBI shareholders?
SBI Funds Management has reserved up to 1.3 crore equity shares, worth nearly ₹750 crore at the upper end of the price band, for eligible shareholders of State Bank of India.
The maximum application amount under the SBI shareholder reservation category is ₹2 lakh. However, unlike the employee quota, no price discount has been offered to SBI shareholders applying under the reserved category.
Separately, the company has reserved shares worth ₹170 crore for eligible employees, who will receive a discount of ₹54 per share while bidding for the IPO.
Who is eligible to apply under the SBI shareholder category?
Shareholders who held shares of SBI as of the Red Herring Prospectus (RHP) filing date, July 8, are eligible to apply under the reserved shareholder category in the SBI Funds Management IPO.
According to the SBI Funds Management IPO RHP filed with SEBI, eligible SBI shareholders must have a valid Permanent Account Number (PAN) that is updated in SBI’s shareholder records. They must also hold a valid demat account, as IPO shares can be allotted only in dematerialised form.
SBI Funds Management IPO GMP Today
The unlisted shares of SBI Funds Management are commanding a strong grey market premium. According to websites tracking the grey market, SBI Funds Management IPO GMP today is ₹86 per share.
SBI Funds Management IPO GMP signals that in the grey market, the shares are trading at ₹660 apiece, a premium of 15% to the issue price of ₹574.
