SBI Funds Management IPO GMP today is Rs 96. Investors can use this GMP along with price band and subscription status for a better IPO review.
Listed
Mainboard IPO
SBIFUNDS
SBI Funds Management
SBI Funds Management Limited is an asset management company that manages SBI Mutual Fund schemes and also offers portfolio management services (PMS), advisory services, and alternative investment funds (AIFs). It primarily earns management fees from these investment products, with mutual funds contributing most of its revenue. The company also provides digital platforms for investors and distributors, operates international subsidiaries offering offshore investment products, and manages assets across multiple asset classes under SEBI’s regulatory framework. Read more at The Daily Brief by Zerodha
IPO Details
Complete IPO information
| Current GMP | ₹96 |
|---|---|
| Estimated Listing Gain | +16.72% |
| Price Band | ₹545.00 - ₹574.00 |
| Issue Price | ₹574.00 |
| Listing Price | TBA |
| Lot Size | 26 Shares |
| Issue Type | Mainboard |
| Issue Size | Approx ₹9,812.91 Cr |
| Registrar | TBA |
| Exchange | BSE, NSE |
| Retail Quota | TBA |
| Overall Subscription | 41.66x |
| Listing Date | 21 Jul 2026 |
| Minimum Investment | ₹14,924 |
Timeline
IPO roadmap at a glance
01
Bidding Opens
14 Jul 2026
02
Bidding Closes
16 Jul 2026
03
Allotment
17 Jul 2026
04
Listing
21 Jul 2026
Grey Market Premium
Daily GMP status
| Date | GMP | Change | Gain |
|---|---|---|---|
| 20 July | ₹104 | +₹7.00 | 18.12% |
| 17 July | ₹97 | +₹2.00 | 16.90% |
| 16 July | ₹95 | +₹5.00 | 16.55% |
| 15 July | ₹90 | -₹2.00 | 15.68% |
| 14 July | ₹92 | -₹14.00 | 16.03% |
| 13 July | ₹106 | -₹5.00 | 18.47% |
| 11 July | ₹111 | +₹6.00 | 19.33% |
| 10 July | ₹105 | +₹9.00 | 18.29% |
| 9 July | ₹96 | -₹41.00 | 16.72% |
| 8 July | ₹137 | -₹6.00 | 23.87% |
| 7 July | ₹143 | +₹18.00 | 24.91% |
| 6 July | ₹125 | +₹25.00 | 21.78% |
| 4 July | ₹100 | - | 17.42% |
| 3 July | ₹100 | - | 17.42% |
| 2 July | ₹100 | - | 17.42% |
Market Lot
Application size breakdown
| Category | Lots | Shares | Amount |
|---|---|---|---|
| Retail Minimum | 1 Lot | 26 | ₹14,924 |
| Retail Maximum | 13 Lot | 338 | ₹1,94,012 |
| S-HNI Minimum | 14 Lot | 364 | ₹2,08,936 |
| S-HNI Maximum | 67 Lot | 1,742 | ₹9,99,908 |
| B-HNI Minimum | 68 Lot | 1,768 | ₹10,14,832 |
Issue Notes
Important takeaways before applying
Strengths
- Largest asset management company in India by mutual fund QAAUM, benefiting from scale and operating leverage.
- Strong SIP franchise with high investor retention and a large base of long-term systematic investors.
- Backed by SBI’s distribution network and Amundi’s global asset management expertise.
- Wide pan-India distribution network covering most PIN codes through multiple channels.
- Robust technology platform supports large transaction volumes and strong digital investor engagement.
Risks
- Revenue and profitability depend heavily on QAAUM, making earnings sensitive to market movements and investor redemptions.
- Faces intense competition from other asset management companies and alternative investment products.
- A significant portion of revenue comes from managing SBI Mutual Fund schemes, creating customer concentration risk.
- Changes in regulations governing the asset management industry could affect operations and profitability.
- Poor investment performance of its schemes could reduce investor inflows and increase redemptions, impacting business growth.
Analysis
SBI Funds Management IPO Details
SBI Funds Management Limited is launching its Initial Public Offering (IPO) through the book-building process. The public issue consists entirely of an Offer for Sale (OFS), allowing existing shareholders to divest a portion of their holdings. Since there is no fresh issue of equity shares, the company will not receive any proceeds from the IPO.
The equity shares of SBI Funds Management Limited are proposed to be listed on both the BSE and NSE. Eligible investors can apply for the IPO during the subscription period at the specified price band using the ASBA facility or UPI-supported applications provided by registered brokers and banks.
| Particular | Details |
|---|---|
| SBI Funds Management IPO Open Date | July 14, 2026 |
| SBI Funds Management IPO Close Date | July 16, 2026 |
| Face Value | ₹1 Per Equity Share |
| IPO Price Band | ₹545 to ₹575 Per Share |
| Issue Size | Approx ₹[.] Crores |
| Offer for Sale (OFS) | Approx 20,37,09,239 Equity Shares |
| Issue Type | Book-build Issue |
| IPO Listing | BSE, NSE |
Analysis
SBI Funds Management IPO Reservation
SBI Funds Management Limited has allocated its IPO shares among various investor categories in accordance with the SEBI regulations applicable to book-built public issues. The reservation structure is designed to ensure balanced participation from Qualified Institutional Buyers (QIBs), Non-Institutional Investors (NIIs), and Retail Individual Investors (RIIs).
While the exact number of shares reserved for each category will be announced closer to the issue, the percentage allocation for institutional, non-institutional, and retail investors has been specified in the offer structure.
| Investor Category | Shares Offered | Shares (%) |
|---|---|---|
| Anchor Investor | – Shares | -% |
| QIB (Ex. Anchor) | – Shares | 50% |
| NII Shares Offered | – Shares | 15% |
| Retail Shares Offered | – Shares | 35% |
Analysis
SBI Funds Management IPO Anchor Investors
SBI Funds Management Limited has reserved a portion of its IPO for Anchor Investors under the book-building process. Anchor investors generally comprise Qualified Institutional Buyers (QIBs), including mutual funds, insurance companies, banks, financial institutions, and foreign portfolio investors, who subscribe to the issue before it opens for public bidding.
Participation by anchor investors is often considered an indication of institutional confidence in the IPO. As per SEBI regulations, shares allotted to anchor investors are subject to mandatory lock-in periods before they become eligible for trading in the secondary market.
| Particular | Details |
|---|---|
| Anchor Bidding Date | 2026 |
| Anchor Investors List | |
| Shares Offered | [.] Shares |
| Anchor Size | [.] Cr. |
| Lock-in Period End Date for 50% Shares (30 Days) | 2026 |
| Lock-in Period End Date for Remaining 50% Shares (90 Days) | 2026 |
Note: The final anchor investor allocation, anchor issue size, and the list of participating institutional investors will be announced after the completion of the anchor book process. The allotted shares will remain subject to the applicable SEBI-prescribed lock-in requirements.
Analysis
SBI Funds Management IPO Dates
The SBI Funds Management IPO will open for subscription on July 14, 2026 and close on July 16, 2026. During this period, eligible investors can submit their applications through the ASBA facility or UPI-supported applications made available by registered brokers and banks.
The basis of allotment is expected to be finalized on July 17, 2026. Refunds to unsuccessful applicants and the credit of equity shares to successful investors' demat accounts are scheduled for July 20, 2026. The shares of SBI Funds Management Limited are proposed to be listed on the BSE and NSE on July 21, 2026.
| Event | Date |
|---|---|
| IPO Open Date | July 14, 2026 |
| IPO Close Date | July 16, 2026 |
| Basis of Allotment | July 17, 2026 |
| Refunds Initiation | July 20, 2026 |
| Credit to Demat Account | July 20, 2026 |
| IPO Listing Date | July 21, 2026 |
Analysis
SBI Funds Management IPO Promoters and Holding Pattern
The promoters of SBI Funds Management Limited are State Bank of India, Amundi India Holding, and Amundi Asset Management. These promoters have played a significant role in the company's growth, governance, and expansion, helping it establish a strong presence in India's asset management industry.
Before the IPO, the promoter group collectively holds a substantial majority stake in the company. As the public issue consists entirely of an Offer for Sale (OFS), the promoter shareholding is expected to reduce after the completion of the IPO. The final post-issue shareholding will be disclosed upon completion of the offering.
| Particular | Shares | % Share |
|---|---|---|
| Promoter Holding Pre-Issue | 2,03,68,27,612 | 98.02% |
| Promoter Holding Post Issue | – | -% |
Note: The final post-issue promoter shareholding will be determined after the completion of the Offer for Sale (OFS) and allotment process, as disclosed in the company's final IPO documents.
Analysis
SBI Funds Management IPO Objects of the Issue & Utilisation of Proceeds
The SBI Funds Management IPO consists entirely of an Offer for Sale (OFS). As there is no fresh issue of equity shares, the company will not receive any proceeds from the public issue. Instead, the proceeds from the Offer for Sale will be received by the selling shareholders in accordance with the terms of the offer.
Accordingly, there are no specific objects for the utilization of IPO proceeds by SBI Funds Management Limited under this public issue. The details below are presented as disclosed in the offer structure.
| Purpose | Amount |
|---|---|
| – | ₹- |
| – | ₹- |
| – | ₹- |
Note: Since this IPO is a complete Offer for Sale (OFS), the company will not receive any funds from the issue. The net proceeds will be received by the respective selling shareholders.
Analysis
SBI Funds Management - About IPO
With its incorporation in 1992, the SBI Funds Management is India’s oldest and largest Assest Management company, with an experience of 38 years in managing SBI Mutual Fund. It is backed by India’s largest bank, the State Bank of India, and it is a joint venture between Amundi and the State Bank of India. Along with India, the firm also has an international presence in Japan, Australia, and Korea with AUM of ₹232,090.37 million.
The firm manages a diversified portfolio of 126 mutual fund schemes across equity and equity-oriented, debt, arbitrage, ETFs, index, overseas fund-of-funds, and Liquid and overnight funds. As of December 31, 2025, the firm has offered its services to over 16.05 million investors and manages around ₹16.32 lakh crores of investors’ money.
Analysis
SBI Funds Management IPO Company Financial Report
SBI Funds Management Limited has reported consistent financial growth over the last few financial years, supported by a steady increase in revenue, profitability, and total assets. The company has maintained strong earnings while effectively managing its operating expenses, reflecting the strength of its asset management business and expanding investor base.
The financial performance below provides an overview of the company's reported revenue, expenses, profit after tax (PAT), and total assets for the respective financial periods preceding the IPO.
| Period Ended | Revenue | Expense | PAT | Assets |
|---|---|---|---|---|
| 2023 | ₹2,412.58 | ₹641.71 | ₹1,339.71 | ₹4,984.24 |
| 2024 | ₹3,426.08 | ₹752.46 | ₹2,072.79 | ₹7,106.93 |
| 2025 | ₹4,236.15 | ₹871.81 | ₹2,540.15 | ₹8,771.86 |
| Dec 2025 | ₹3,883.24 | ₹735.58 | ₹2,432.91 | ₹7,824.71 |
Amount in ₹ Crores: The above financial information is based on the reported financial statements of SBI Funds Management Limited and is intended to provide investors with an overview of the company's financial performance before the IPO.
Analysis
SBI Funds Management IPO Valuation – FY2025
Investors can evaluate the financial strength of SBI Funds Management Limited by reviewing key valuation metrics such as Return on Equity (ROE), Earnings Per Share (EPS), Return on Net Worth (RoNW), Net Asset Value (NAV), and other profitability indicators. These ratios provide valuable insights into the company's operational performance, shareholder returns, and overall financial position before the IPO.
Based on the FY2025 financial statements, SBI Funds Management Limited has reported strong profitability and healthy shareholder returns. The valuation metrics below summarize the company's key financial indicators ahead of its public offering.
| KPI | Values |
|---|---|
| ROE | 33.77% |
| ROCE | -% |
| EBITDA Margin | -% |
| PAT Margin | -% |
| Debt to Equity Ratio | – |
| Earning Per Share (EPS) | ₹12.53 (Basic) |
| Price/Earning (P/E) Ratio | N/A |
| Return on Net Worth (RoNW) | 33.77% |
| Net Asset Value (NAV) | ₹40.85 |
Note: The above valuation metrics are based on the FY2025 financial statements of SBI Funds Management Limited. Investors should also consider the company's business fundamentals, competitive position, industry outlook, IPO pricing, and risk factors before making an investment decision.
Analysis
SBI Funds Management IPO Peer Group Comparison
Comparing SBI Funds Management Limited with other listed asset management companies helps investors assess its competitive position within the mutual fund industry. Key financial metrics such as Earnings Per Share (EPS), Price-to-Earnings (P/E) Ratio, Return on Net Worth (RoNW), Net Asset Value (NAV), and total income offer useful insights into profitability, valuation, and operational performance.
The table below presents a comparison of SBI Funds Management Limited with its major listed peers. Investors should consider these metrics along with the company's business model, growth prospects, assets under management (AUM), and IPO valuation before making an investment decision.
| Company | EPS | P/E Ratio | RoNW % | NAV | Income |
|---|---|---|---|---|---|
| ICICI Prudential Asset Management Company Limited | 53.60 | 53.73 | 82.80% | 71.20 | 4,682.78 Cr. |
| HDFC Asset Management Company Limited | 57.58 | 41.50 | 32.36% | 189.82 | 3,498.44 Cr. |
| Nippon Life India Asset Management Limited | 20.34 | 41.12 | 31.39% | 66.38 | 2,230.69 Cr. |
| Aditya Birla Sun Life Asset Management Company Limited | 32.26 | 28.99 | 26.99% | 129.19 | 1,684.78 Cr. |
| UTI Asset Management Company Limited | 57.35 | 16.68 | 16.28% | 359.37 | 1,851.09 Cr. |
Note: The peer comparison is intended for informational purposes only. Investors should evaluate these financial metrics together with SBI Funds Management Limited's business fundamentals, market position, IPO valuation, and future growth prospects before investing.
Analysis
IPO Lead Managers aka Merchant Bankers
- Axis Capital Limited
- BofA Securities India Limited
- ICICI Securities Limited
- HSBC Securities and Capital Markets (India) Private Limited
- Kotak Mahindra Capital Company Limited
- Jefferies India Private Limited
- JM Financial Limited
- Motilal Oswal Investment Advisors Limited
- SBI Capital Markets Limited
FAQ
SBI Funds Management IPO FAQs
SBI Funds Management IPO price band is Rs 545.00 to Rs 574.00. Check the latest issue price, lot size and GMP together before applying.
SBI Funds Management IPO open date is 14 Jul 2026, close date is 16 Jul 2026, and listing date is 21 Jul 2026.
SBI Funds Management IPO lot size is 26 shares. The minimum retail investment is Rs 14,924.
SBI Funds Management is classified as a Mainboard IPO. This helps investors quickly understand the issue category and exchange segment.
SBI Funds Management IPO subscription status currently shows Retail 3.6x, QIB 140.11x, Overall 41.66x.
SBI Funds Management Limited is an asset management company that manages SBI Mutual Fund schemes and also offers portfolio management services (PMS), advisory services, and alternative investment funds (AIFs). It primarily earns management fees from these investment products, with mutual funds contributing most of its revenue. The company also provides digital platforms for investors and distributors, operates international subsidiaries offering offshore investment products, and manages assets across multiple asset classes under SEBI’s regulatory framework. Read more at The Daily Brief by Zerodha
SBI Funds Management IPO issue size is 9812.91 and the expected allotment date is 17 Jul 2026.