SBI Funds Management IPO Listing: Shares Open 6.85% Above Issue Price On NSE

SBI Funds Management Ltd made its stock market debut on Tuesday, 21 July, with its shares listing at a premium after its ₹9,813-crore initial public offering (IPO) attracted strong demand across investor categories.

SBI Funds Management IPO Listing Today

The stock opened at ₹613.30 on the National Stock Exchange (NSE), a premium of 6.85% over its issue price of ₹574 per share. On the Bombay Stock Exchange (BSE), the stock debuted at ₹610, up 6.27% from the issue price.

SBI Funds Management IPO was open for subscription from 14 July to 16 July. It received an overall subscription of 41.66 times, led by strong participation from institutional investors (see table).

The IPO was entirely an offer for sale (OFS) by State Bank of India (SBI) and Amundi India Holding. As a result, SBI Funds Management will not receive any proceeds from the public issue. The shares were offered in a price band of ₹545-574 apiece.

Public Float Increases After Listing

Following the listing, the combined holding of the promoter and promoter group is expected to decline to 89.8% from 98.2%. Public shareholding is set to rise to 10.2%. This increases the stock's free float and liquidity in the secondary market.

SBI Funds Management is the largest asset management company (AMC) in India. Its assets under management (AUM) are more than ₹12.5 lakh crore and it has a market share of 15.3%. The company operates as a joint venture between State Bank of India and Amundi, Europe's largest asset manager.

Business And Financial Performance

As per reports, SBI Funds Management manages 128 investment schemes spanning equity, debt, hybrid, exchange-traded funds (ETFs), index funds and overseas funds. It also offers portfolio management services (PMS), alternative investment funds (AIFs), specialised investment funds (SIFs) and advisory mandates. For FY26, the company reported:

• Total income: ₹4,976 crore, up 17% year-on-year

• Net profit: ₹3,067 crore, up 21%

• Return on net worth (RoNW): 43.02%

The company also reported an improvement in profitability over the past few years. Its earnings before interest, taxes, depreciation, and amortisation (EBITDA) margin expanded to 79% in FY26 from 72% in FY23.

The listing also marks another addition to the SBI Group's listed financial services businesses. SBI Funds Management becomes the third listed SBI Group company. It comes after SBI Life Insurance and SBI Cards & Payment Services.

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