About SBI Funds Management IPO
SBI Funds Management Limited is set to launch its IPO for public subscription on July 14, 2026, and will remain open until July 16, 2026.
The price band for the SBI Funds Management IPO is set at ₹545-₹574 per equity share. The allotment is expected to be finalised on July 17, 2026.
This IPO will list on both the BSE and NSE on July 21, 2026.
The SBI Funds Management IPO is an ₹11,692.91 crore book-building issue, comprising entirely of an offer for sale (OFS) of up to 20,37,09,239 equity shares with a face value of ₹1 each.
Since it is a 100% OFS, the company will not receive any proceeds from this IPO. The entire amount goes to the selling shareholders, State Bank of India and Amundi India Holding.
(Note: There is no shareholder quota in this IPO. Existing SBI shareholders will not receive any preferential allotment and must apply through the standard retail or NII categories on the same terms as all other investors.)
Business Overview of SBI Funds Management
SBI Funds Management Limited, incorporated in 1992 and headquartered in Mumbai, is India's largest asset management company (AMC) by quarterly average assets under management (QAAUM). It acts as the investment manager to SBI Mutual Fund, one of India's oldest mutual fund entities, and is a joint venture between State Bank of India and Amundi Asset Management (France).
SBI's AMC offers a comprehensive suite of investment solutions spanning equity, debt, and hybrid mutual fund schemes, along with
- Portfolio Management Services (PMS)
- Alternative Investment Funds (AIFs), and offshore advisory mandates.
It manages 126 mutual fund schemes across categories including equity, debt, arbitrage, ETFs, index funds, overseas fund-of-funds, and liquid/overnight funds.
SBI Funds Management leverages State Bank of India's extensive branch network and 96+ million YONO user base, alongside Amundi's global asset management expertise.
SBI Funds Management IPO Date, Price, and Other Details
The following are the details of the upcoming ipo of SBI Funds Management.
Particulars | Details |
IPO Size | Book Build issue of ₹11,692.91 crore |
Offer Type | Offer for Sale (OFS) of up to 20,37,09,239 equity shares |
Price Band | ₹545 to ₹574 per share |
Issue Dates | Opens: Jul 14, 2026 · Closes: Jul 16, 2026 |
Minimum Bid Lot | 1 lot of 26 shares |
Minimum Investment (Retail) | ₹14,924 (at upper band) |
Allotment Date | Jul 17, 2026 |
Listing Date | Jul 21, 2026 |
Face Value | ₹1 per share |
Employee Discount | ₹54 per share |
Lead Managers (BRLMs) | Kotak Mahindra Capital Co. Ltd., Axis Capital Ltd., BofA Securities India Ltd., HSBC Securities and Capital Markets (India) Pvt. Ltd., ICICI Securities Ltd., Jefferies India Pvt. Ltd., JM Financial Ltd., Motilal Oswal Investment Advisors Ltd., SBI Capital Markets Ltd. |
Registrar | Kfin Technologies Ltd. |
Listing Exchanges | National Stock Exchange of India (NSE) & Bombay Stock Exchange (BSE) |
(Note: SBI Capital Markets Ltd., being an associate of the company and State Bank of India, is involved only in the marketing of the offer, in compliance with SEBI Merchant Bankers Regulations.)
SBI Funds Management IPO Reservation: Who Can Apply?
The SBI Funds Management IPO has the following investor category reservations:
Investor Category | Lots | Shares | Amount (at ₹574) |
Retail (Min) | 1 | 26 | ₹14,924 |
Retail (Max) | 13 | 338 | ₹1,94,012 |
sNII (Min) | 14 | 364 | ₹2,08,936 |
sNII (Max) | 67 | 1,742 | ₹9,99,908 |
bNII (Min) | 68 | 1,768 | ₹10,14,832 |
QIB | As applicable | — | — |
Strengths and Risks of SBI Funds Management IPO
With every business owning its strengths and risks, even the SBI Funds Management IPO has its potential plus points and downsides to be aware of.
Here is a brief business analysis (as per RHP) below:
Strengths
- SBI Funds Management is India's largest AMC by QAAUM, with a mutual fund market share of 15.3% (as of FY26).
- Also, SBI is India's largest passive fund manager, holding 29.6% market share with passive QAAUM of ₹3,99,953 crore.
- Dual parentage of State Bank of India and Amundi Asset Management provides deep domestic reach and global asset management expertise.
- PAN-India distribution network via SBI's branches, YONO platform, banks, and third-party distributors.
- Revenue from operations grew at a CAGR of 29.01% from FY23 to FY25.
- Individual investor base of over 1.6 crore as of December 2025, reflecting a strong retail franchise.
- International presence across Japan, Australia, and Korea, adding a diversified revenue stream.
Risks
- SBI Funds Management IPO is a 100% OFS. The company will not receive any proceeds. The entire amount goes to selling shareholders.
- The company currently operates under a licensed "SBI" brand. If SBI's shareholding falls below 26%, this right can be terminated, creating long-term brand dependency risk.
- SBI's logo is not currently registered under the Trade Marks Act, 1999, creating uncertainty around brand protection.
- Likewise, SBI Funds Management has disclosed a cybersecurity incident involving a third-party vendor that resulted in the exposure of certain employee data.
- There is no shareholder quota in the SBI Funds Management IPO. Even existing SBI shareholders receive no preferential allotment.
- Regulatory changes in the mutual fund and asset management industry could impact fee structures and margins.
Future Plans/Strategies of SBI Funds Management
- Continue strengthening the passive fund (ETF and index fund) leadership position.
- Expand distribution reach through digital platforms and SBI's branch network.
- Deepen international advisory and offshore fund mandates leveraging the Amundi partnership.
- Strengthen governance and disclosure standards following the listing.
- Enhance brand visibility as a listed, publicly accountable entity.
SBI Funds Management IPO Objectives – How Will the Funds Be Used?
The SBI Funds Management IPO is entirely an Offer for Sale (OFS). The company will not receive any proceeds from this IPO. This is structured as a stake-sale event for the selling shareholders rather than a capital-raising exercise for the company.
The key objectives of the offer, as stated in the RHP, include:
- Achieving the benefits of listing equity shares on the stock exchanges.
- Enhancing the company's visibility and brand image.
- Providing liquidity to existing shareholders, State Bank of India, and Amundi India Holding.
- Creating a public market for the company's equity shares in India.
Selling Shareholder | Shares Offered (up to) |
State Bank of India | 12.83 crore shares |
Amundi India Holding | 7.54 crore shares |
Total | 20,37,09,239 shares |
How To Apply for the SBI Funds Management IPO?
You can apply for the SBI Funds Management IPO on any financial platform by following these simple steps:
Step 1: Open a Demat and trading account with a broker
Step 2: Log in and go to the IPO section
Step 3: Select SBI Funds Management IPO
Step 4: Enter the lot size (minimum 26 shares) and bid price (₹545–₹574)
Step 5: Approve the UPI mandate to block funds
Step 6: Submit your application
How To Check the IPO Allotment Status of SBI Funds Management?
Once applied, you can track the SBI Funds Management IPO allotment status on the Registrar website (Kfin Technologies Limited), BSE/NSE, or on trading platforms.
- Visit the Kfin Technologies IPO allotment portal: https://ipostatus.kfintech.com/
- Select "SBI Funds Management Limited" from the company dropdown.
- Enter any of these details – PAN, Application Number, DP/Client ID, or Account Number/IFSC.
- Click on the "Submit" button to view your IPO allotment status.
Promoter Shareholding of SBI Funds Management IPO
The promoters of SBI Funds Management IPO include State Bank of India (SBI) and Amundi India.
Promoter | Pre-Issue Holding |
State Bank of India | 61.73% |
Amundi India | 36.26% |
Promoters (A) | 97.99% |
Others (Promoter Group) | 0.20% |
Total (A+B) | 98.19% |
Financial Performance (₹ in crores) of SBI Funds Management IPO
Here's the table outlining the financial performance of SBI Funds Management from FY 2023 to FY 2025 and up to 31st March, 2026.
(in crores)
Period Ended | 31 Mar 2026 | 31 Mar 2025 | 31 Mar 2024 |
Assets | 6,420.45 | 8,771.86 | 7,106.93 |
Total Income | 4,976.11 | 4,236.15 | 3,426.08 |
Profit After Tax | 3,067.38 | 2,540.15 | 2,072.79 |
EBITDA | 4,058.44 | 3,412.94 | 2,718.82 |
NET Worth | 5,963.06 | 8,297.53 | 6,747.75 |
Reserves and Surplus | 326.73 | 255.12 | 182.02 |
Key Performance Metrics of SBI Funds Management
Based on the financials available in the RHP, the following key performance metrics of SBI Funds Management can be considered.
KPI | As of Mar 31, 2026 | Values (as of FY 2024-25) |
Unique investors (in million) | 18.00 | 14.67 |
Return on Equity (ROE) | 43.02% | 33.77% |
Net Asset Value (NAV) | 7.73 | 8.90 |
Total QAAUM | 29,461.05 | 26,275.83 |
MF MAAUM - T30 | 9,376.55 | 8,172.80 |
PMS & Advisory QAAUM | 16,878.99 | 15,489.86 |
AIF QAAUM | 65.65 | 50.76 |
Earnings Per Share (EPS - Diluted) | 1.72 | 1.27 |
(Note: P/E, market capitalisation, and post-IPO NAV are subject to final pricing and allotment. Refer to the RHP for complete details.)
Key notes:
- QAAUM (Quarterly Average Assets Under Management): The average value of assets managed during a quarter.
- MAAUM (Monthly Average Assets Under Management): The average value of assets managed during a month.
- MF MAAUM - T30: Monthly average mutual fund assets under management from the Top 30 cities (B30 refers to locations beyond the top 30 cities).
Registrar of SBI Funds Management IPO
The Registrar of SBI Funds Management IPO is Kfin Technologies Ltd.
Phone: 04067162222, 04079611000
Email: einward.ris@kfintech.com
Website: https://www.kfintech.com
Lead Manager of SBI Funds Management IPO
In total, 9 lead managers are handling the IPO process of SBI Funds Management Limited:
- Kotak Mahindra Capital Company Ltd.
- Axis Capital Ltd.
- BofA Securities India Ltd.
- HSBC Securities and Capital Markets (India) Pvt. Ltd.
- ICICI Securities Ltd.
- Jefferies India Pvt. Ltd.
- JM Financial Ltd.
- Motilal Oswal Investment Advisors Ltd.
- SBI Capital Markets Ltd.
