SBI Funds Management IPO opens tomorrow: GMP, issue details, 10 key things to know

SBI Funds Management IPO opens for subscription on tomorrow (Tuesday, 14 July). SBI Funds Management is India's oldest asset management company and acts as the investment manager for SBI Mutual Fund, which began operations in June 1987 as the country's first mutual fund established outside the Unit Trust of India (UTI).

According to its draft papers, the company is also India's largest passive asset manager, managing ₹3,99,953 crore in passive quarterly average assets under management (QAAUM) through its exchange-traded funds (ETFs) and index funds as of December 31, 2025. This translated into a 29.6% market share in the country's passive fund segment.

According to a Bloomberg report, global investment firms including The Capital Group Inc., BlackRock Inc., Fidelity Investments, and Goldman Sachs Asset Management L.P. participated in the anchor book of the SBI Funds Management IPO, which was reportedly subscribed to more than 20 times ahead of the public issue, citing people familiar with the matter.

The report added that sovereign wealth funds such as the Abu Dhabi Investment Authority (ADIA), Singapore's GIC Pte., and Norway's Norges Bank Investment Management also placed bids in the anchor portion. The offering also attracted strong participation from leading Indian mutual funds and insurance companies.

According to Bloomberg report, bankers managing the issue are expected to allocate around 5.10 crore equity shares to anchor investors at the upper price band of ₹574 per share, raising nearly ₹2,944 crore through the anchor book.

Here are the 10 key things to know about SBI Funds Management IPO:

SBI Funds Management IPO date: SBI Funds IPO opens for subscription on Tuesday, 14 July, and closes on Thursday, 16 July.

SBI Funds Management IPO price band: SBI Funds IPO price band has been fixed in the range of ₹545 to ₹574 per equity share of face value of Re 1.

SBI Funds Management IPO lot size: SBI Funds IPO lot size is 26 equity shares and in multiples of 26 equity shares thereafter.

Anchor investors: The allocation to anchor investors for SBI Funds IPO is scheduled to take place today (Monday, 13 July).

SBI Funds Management IPO details: The SBI Funds Management IPO is entirely an Offer for Sale (OFS) of equity shares aggregating up to ₹11,102 crore, with existing promoters State Bank of India (SBI) and Amundi India Holding offloading part of their stakes.

Under the OFS, SBI will sell up to 12.83 crore equity shares, representing a 6.3% stake, while Amundi India Holding will divest up to 7.56 crore equity shares, equivalent to a 3.7% stake. Following the sale, the two promoters, which currently hold nearly 98% of SBI Funds Management, will reduce their combined shareholding in the company.

SBI Funds Management IPO objective: The company believes that the listing of its equity shares will enhance its brand visibility and market presence, while also creating a public trading platform for its equity shares in India.

SBI Funds Management IPO listing date and allotment details: Tentatively, SBI Funds Management IPO basis of allotment of shares will be finalised on Friday, 17 July and the company will initiate refunds on Monday, 20 July, while the shares will be credited to the demat account of allottees on the same day following refund. SBI Funds Management share price is likely to be listed on BSE and NSE on Tuesday, 21 July.

Lead Manager and Registrar of SBI Funds Management IPO: The IPO is being managed by a consortium of book-running lead managers comprising Kotak Mahindra Capital Company, Axis Capital, BofA Securities India, HSBC Securities and Capital Markets (India), ICICI Securities, Jefferies India, JM Financial, Motilal Oswal Investment Advisors, and SBI Capital Markets.