SBI Funds Management IPO Subscription Status: ₹11,693-Crore Issue Opens Tomorrow

SBI Funds Management IPO Subscription Status

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Summary

SBI Funds Management IPO Subscription Status: The ₹11,692.91-crore public issue will open for subscription on July 14 and remain available for bidding until July 16. Category-wise subscription figures will be updated during the three-day issue period.

The ₹11,692.91-crore initial public offering (IPO) of SBI Funds Management Ltd. will open for subscription on Tuesday, July 14, and close on July 16. The company has fixed the price band at ₹545–₹574 per equity share.

The public issue is entirely an Offer for Sale (OFS), under which the existing shareholders will offload part of their stake. As there is no fresh issue, the company will not receive any proceeds from the IPO.

Retail investors can apply for a minimum of 26 equity shares and in multiples thereafter. At the upper end of the price band, the minimum investment works out to ₹14,924. The basis of allotment is expected to be finalised on July 17, while the shares are scheduled to list on the BSE and NSE on July 21.

SBI Funds Management IPO Subscription Status

The SBI Funds Management IPO will open for bidding on July 14. Category-wise subscription figures will be updated as the exchanges release bidding data during market hours.

SBI Funds Management IPO Subscription Status

The day-wise subscription trend for the SBI Funds Management IPO will be updated throughout the bidding period.

SBI Funds Management IPO Details

The SBI Funds Management IPO is a 100% Offer for Sale (OFS) worth ₹11,692.91 crore. The company will not receive any proceeds from the public issue, with the entire offer comprising shares sold by the existing shareholders.

The price band has been fixed at ₹545–₹574 per share. Investors can bid for a minimum of 26 equity shares, requiring an investment of ₹14,924 at the upper end of the price band.

SBI Funds Management IPO Reservation

The issue has reserved up to 50% of the net offer for Qualified Institutional Buyers (QIBs), at least 15% for Non-Institutional Investors (NIIs) and at least 35% for Retail Individual Investors (RIIs).

SBI Funds Management IPO Lot Size

Retail investors can apply for a minimum of 26 equity shares and in multiples thereafter.

SBI Funds Management IPO Key Dates

The IPO will open for subscription on July 14 and close on July 16. The basis of allotment is expected to be finalised on July 17, while the shares are proposed to list on the BSE and NSE on July 21.

Book Running Lead Managers

Kotak Mahindra Capital Company Limited, Citigroup Global Markets India Private Limited, Morgan Stanley India Company Private Limited, BofA Securities India Limited, ICICI Securities Limited, SBI Capital Markets Limited and JM Financial Limited are the book-running lead managers to the issue, while KFin Technologies Limited is the registrar.

The SBI Funds Management IPO will open for subscription on July 14. Subscription figures across investor categories will be updated as fresh bidding data is released by the exchanges during the three-day issue period.

Also Read- Just Dial Q1 Profit Climbs 4.1% To ₹166.2 Crore, Shares Rally 20%

This article is for informational purposes only and should not be considered investment advice from Kotak Neo. For compliance T&C and disclaimers, Visit https://www.kotakneo.com/disclaimer/

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