SBI Funds Management IPO Subscribed Over 3 Times On Final Day; GMP Signals 16% Listing Gain
· Free Press Journal
The initial public offering (IPO) of SBI Funds Management continued to attract strong investor interest on its final day of subscription, with the Rs 9,813-crore issue receiving bids worth over three times the shares offered.
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Investors placed bids for around 44.67 crore shares against the 12.46 crore shares available under the issue.
The Non-Institutional Investors (NIIs) category emerged as the biggest contributor to demand, with the portion subscribed around 8.7 times.
The Retail Individual Investors (RIIs) category saw subscription of about 1.8 times, reflecting healthy participation from individual investors.
Investor sentiment around the issue remained positive, with grey market trends indicating expectations of a strong market debut.
SBI Mutual Fund IPO Opens July 14, SBI And Amundi To Sell 10% Stake Through Offer For SaleAccording to market tracking platforms, the grey market premium (GMP) for SBI Funds Management IPO stood at Rs 92 per share on July 16.
Based on the upper end of the IPO price band of Rs 574, the GMP suggests a possible listing price of nearly Rs 662 per share, implying a potential gain of around 16% for investors.
The company has fixed the IPO price band at Rs 545–Rs 574 per equity share.
The public offering is entirely an Offer for Sale (OFS) of 20.37 crore shares, meaning SBI Funds Management will not receive any fresh capital from the issue. The proceeds will go to existing shareholders State Bank of India (SBI) and Amundi India Holding.
₹10,100 Crore Worth Of IPOs Open Next Week, SBI Funds Management Leads With ₹9,812.91 Crore Public IssueBrokerages have maintained a favourable view of the IPO. Swastika Investmart has recommended subscribing to the issue, citing the company’s leadership position in the asset management sector, strong financial performance and attractive valuation.
Geojit Financial Services has also suggested subscribing, highlighting that the company’s valuation at the upper price band translates into a price-to-earnings ratio of around 38 times, which remains lower than several industry peers.
The basis of allotment is expected to be finalised on July 17, while shares are likely to begin trading on the NSE and BSE on July 21.
Established in 1992, SBI Funds Management manages SBI Mutual Fund, a joint venture between SBI and Amundi.
The company managed assets worth around Rs 16.32 lakh crore in 2025 and held nearly 15.5% share of India’s mutual fund industry.