SBI Funds Management shares list with 7% premium at ₹613 on NSE
AI Summary
SBI Funds Management made its stock market debut on July 21, opening at ₹613.30 on NSE and ₹610 on BSE, reflecting a moderate gain of approximately 6.85% over the IPO price of ₹574. Despite a strong subscription rate of 41.66 times, the listing fell short of market expectations, as the estimated listing price was projected at ₹669.5 based on the gray market premium of ₹95.5.
SBI Funds Management IPO listing: SBI Funds Management share price made a moderate debut in the Indian stock market on Tuesday, 21 July. The stock listed at a 6.85% premium over the IPO price of ₹574 per share.
SBI Funds Management share price opened at ₹613.30 on NSE and ₹610 on BSE (6.27% premium). This means that the IPO allottees made a gain of 6.85% over the SBI Funds Management IPO listing.
The listing of SBI Funds Management IPO came below the market expectations. The GMP of SBI Funds Management IPO was ₹95.5, ahead of the listing, signalling the estimated listing price of ₹669.5, which is 16.64% higher than the IPO price.
The SBI Funds Management IPO was open for public subscription from July 14 to July 16, with the share allotment finalised on July 17. The company's shares are scheduled to debut on the BSE and NSE on July 21.
The IPO was priced in the range of ₹545 to ₹574 per share and raised ₹9,812.91 crore through a book-built issue that was entirely an offer for sale (OFS) of 17.10 crore equity shares by existing promoters, State Bank of India (SBI) and Amundi India Holding.
According to NSE data, the public issue received an overall subscription of 41.66 times. The retail investor portion was subscribed 3.60 times, while the Non-Institutional Investors (NII) segment saw 22.51 times subscription. The Qualified Institutional Buyers (QIB) category witnessed the strongest demand, attracting subscriptions of 140.11 times.
Kotak Mahindra Capital Co. Ltd. acted as the book-running lead manager for the issue, while Kfin Technologies Ltd. served as the registrar.
Founded in 1992, SBI Funds Management, the investment manager of SBI Mutual Fund, is India's largest asset management company in terms of assets under management (AUM). The company operates as a joint venture between State Bank of India and Amundi.
In FY26, SBI Funds Management posted a total income of ₹4,969 crore, contributing around 0.70% to the SBI Group's overall income.
Disclaimer: This story is for educational purposes only. Please consult with an investment advisor before making any investment decisions.
Vaamanaa covers business and stock market news. Started in 2020, she has been producing news on digital platforms for over 4.5 years now. She writes on markets, commodities, IPOs, and industry. She has worked for news channels like Jagran New Media and Business Insider India. You can reach out to her at vaamanaa.sethi@htdigital.in.
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