SBI’s OFS size in SBI MF IPO reduces by 2.88 crore equity shares following secondary share sale

The size of the offer for sale (OFS) by State Bank of India in SBI Mutual Fund’s initial public offer (IPO) has been reduced by about 2.88 crore shares following the Bank making a pre-IPO sale of an equivalent number of shares to 30 investors at ₹574 per equity share for an aggregate amount of ₹1,655 crore.

In the wake of the pre-IPO share sale, the size of the OFS by SBI in SBI MF’s IPO has been revised from up to 12.83 crore equity shares (amounting to 6.3007 per cent of the paid-up equity share capital of SBIFM) to up to 9.95 crore equity shares (amounting to 4.8851 per cent of the paid-up equity share capital of SBIFM), per SBI’s regulatory filing.

In the pre-IPO transaction, which was completed on July 10th, three investors invested more than ₹100 crore — Akash Manek Bhanshali (about ₹200 crore), PI Opportunities Fund — II (about ₹200 crore) and 3P India Equity Fund I ( ₹150 crore)

SBI MFs IPO comprises entirely of OFS by promoters SBI and Amundi India Holdings aggregating up to 17.09 crore equity shares of ₹1 face value each, representing up to 8.3933 per cent of its paid-up equity share capital. It will open and close for subscription on July 14 and July 16, respectively.

The IPO of India’s largest mutual fund, which managed assets worth ₹12.51 lakh crore and had a mutual fund market share of 15 per cent as of March-end 2026, comprises of an OFS of up to 9.95 crore equity shares (amounting to 4.8851 per cent of the paid-up equity share capital of SBIFM) by State Bank of India, and of up to 7.14 crore equity shares (amounting to 3.5082 per cent of the paid-up equity share capital of SBIFM) by Amundi India Holding.

SBI and Amundi India Holding will be mopping up ₹5,711 crore and ₹4,101 crore, respectively, from the IPO at the upper end of the price band of ₹545 to ₹574 per equity share of face value ₹1 each, In the pre-IPO, transaction, India’s largest bank has already netted ₹1,655 crore. So, the Bank’s other income will get a boost of ₹7,366 crore in the second quarter financial results.