The company has fixed a price band of ₹545 to ₹574 per equity share, with a face value of ₹1 each.
The IPO is entirely an Offer for Sale (OFS) comprising more than 20 crore equity shares, with no fresh issue. As a result, the company will not receive any proceeds from the public issue, and the entire amount will go to the selling shareholders.
Lot size and minimum investment
Investors can bid for a minimum of 26 shares, which constitutes one lot.
At the upper end of the price band, retail investors will need to invest at least ₹14,924 for one lot. Additional bids can be made in multiples of 26 shares.
IPO reservation
The issue has been divided into the following investor categories:
Qualified Institutional Buyers (QIBs): 50%
Retail Individual Investors (RIIs): 35%
Non-Institutional Investors (NIIs)
Small HNIs: 5%
Big HNIs: 10%
The IPO also includes a shareholder reservation for existing shareholders of State Bank of India. Around 1.3 crore shares, worth nearly ₹750 crore at the upper price band, have been earmarked under this category.
Additionally, shares worth ₹170 crore have been reserved for eligible employees, who will receive a discount of ₹54 per share. Existing SBI shareholders will not receive any price discount.
Valuation and promoter holding
At the upper end of the price band, SBI Funds Management will command a market capitalisation of approximately ₹1.17 lakh crore, placing it alongside or ahead of several companies in the Nifty 50 by market value.
State Bank of India currently owns 98.19% of the asset manager. Following the IPO, its stake will reduce to 88.19%, while remaining comfortably above the regulatory minimum promoter holding requirement.
| Shareholding | Pre-issue | Post-issue |
| Promoter – SBI |
61.76% |
55% |
| Promoter – Amundi (Owned by Credit Agricole) |
36.26% |
33% |
| Total Promoter Holding |
98.02% |
88.04% |
| Public & others |
1.98% |
11.96% |
Key IPO dates
Anchor book opens: July 13
IPO opens: July 14
IPO closes: July 16
Basis of allotment: July 17
Refunds and demat credit: July 20
Expected listing: July 21, 2026
About SBI Funds Management
SBI Funds Management is India’s largest asset management company, managing ₹12.5 lakh crore in mutual fund assets with a 15.3% market share.
The company is a joint venture between State Bank of India and Amundi, one of Europe’s largest asset managers.
It is also the fastest-growing among the top asset managers in beyond-top-30 (B30) cities, where it commands a 19.2% market share.
Its Systematic Investment Plan (SIP) franchise accounts for 12.78% of industry SIP inflows as of December 31, 2025. The AMC also enjoys strong customer retention, with 15.4 million of its 15.76 million live SIP accounts remaining active for over 37 months.
Beyond mutual funds, SBI Funds Management oversees one of India’s largest Portfolio Management Services (PMS) businesses with assets worth ₹16.88 lakh crore, more than 90% of which comes from provident fund and EPFO mandates. It also manages Alternative Investment Fund (AIF) assets of ₹6,565 crore.
The company operates with one of the lowest operating expense ratios among India’s top 10 AMCs and has a team of 70 investment professionals, averaging around nine years of experience.
Key risks to watch
Investors should keep in mind a few risks highlighted by the company:
– Regulatory changes affecting asset management fees and profitability.
– Rising competition from new entrants such as Jio BlackRock and discount brokers launching AMC businesses.
– Increasing shift towards passive investing, which could impact fee income.
– Around 32% of assets under management are in passive funds, which typically generate lower fees.
– Earnings remain linked to equity market performance, making the business susceptible to market volatility.
– Royalty payments to SBI remain significant, with about ₹31 crore, or nearly 5% of revenue, paid during the reported period.
First Published: Jul 9, 2026 6:46 AM IST
