SBI Funds Management files RHP for IPO; issue opens on July 14

State Bank of India (SBI) on Wednesday said its asset management joint venture, SBI Funds Management (SBIFM), has filed the red herring prospectus (RHP) for its proposed initial public offering (IPO).

According to SBI's regulatory filing, the IPO is entirely an offer for sale (OFS) of up to 203.71 million equity shares, representing up to 10% of SBIFM's paid-up equity share capital.

Under the OFS, State Bank of India will divest up to 128.33 million equity shares, equivalent to a 6% stake in SBIFM, while joint venture partner Amundi India Holding will sell up to 75.37 million equity shares, representing a 3.70% stake.

As the issue is entirely an OFS, SBI Funds Management will not receive any proceeds from the public offering, with the entire amount going to the selling shareholders.

The IPO is subject to receipt of the necessary regulatory approvals, prevailing market conditions, and other customary considerations. The public issue will open for subscription on Tuesday, July 14, 2026, and close on Thursday, July 16, 2026.

The price band, lot size, and other details of the IPO, including the issue size, are expected to be announced in due course.

For FY26, SBIFM generated a total income of ₹4,969 crore, which is equal to 0.70% of the total income of the SBI Group.

The anchor investor portion will open for bidding on Monday, July 13, one working day ahead of the public issue. Meanwhile, the qualified institutional buyers (QIB) portion will close on Wednesday, July 15, a day before the issue closes for other investor categories.

The IPO market has regained momentum in recent weeks after a muted start to 2026. In June alone, 22 companies, including SMEs, debuted on the stock exchanges, while another 16 companies have already been listed, signalling a revival in primary market activity and healthy investor demand.

According to Trendlyne data, 151 companies were listed during the first seven months of 2025, while the corresponding figure for 2026 currently stands at 121.

Upon listing, SBI Funds Management will join listed asset management peers such as HDFC Asset Management Company and ICICI Prudential Asset Management Company.

ICICI Prudential AMC, a subsidiary of ICICI Bank, made its stock market debut in December last year, listing at ₹280.25 apiece on the BSE—a 5.4% premium over its IPO price of ₹266 per share.

Disclaimer: We advise investors to check with certified experts before making any investment decisions.

Ksheera Sagar has been working as a Market Research Analyst at LiveMint for the past four years, covering stocks, commodities, and broader financial markets. In this role, he closely tracks daily market movements, corporate earnings, sector trends, and macroeconomic developments. <br><br> He has over a decade of experience in the financial services industry and has previously worked with multiple organisations, including global investment bank J.P. Morgan, bringing strong research experience into the newsroom. <br><br> During his career, he has gained extensive exposure to equity research, market analysis, and financial data interpretation, strengthening his expertise across asset classes and market cycles. <br><br> He is known for his data-driven analysis and crisp, listicle-style market stories that break down complex financial developments across key markets for a wide audience. His strong research skills enable him to write detailed and insightful stories on stocks and sectors, focusing on the underlying factors driving market movements. <br><br> His work combines quantitative insights with clear storytelling, presenting financial developments in a clear and structured manner. Moreover, he enjoys writing multibagger and listicle-style copies. Outside of work, Ksheera enjoys playing the piano and exploring new places. He has a keen interest in travel, music, and continuously learning about global markets and economic trends.

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