SBI Funds Management IPO GMP: Check Day 3 Subscription Status, Allotment, Listing Dates

The Rs 9,813-crore initial public offering (IPO) of SBI Funds Management continued to draw healthy investor interest on the final day of bidding, led by strong demand from non-institutional investors (NIIs) and shareholders. The public issue, which opened for subscription on July 14, will close on July 16.

In the grey market, the premium remained largely unchanged, indicating expectations of a positive listing, although grey market premiums (GMPs) are unofficial and should not be considered a guarantee of listing gains.

SBI Funds Management IPO Subscription Status Day 3

At 10:00 am on July 16, the SBI Funds Management IPO had been subscribed 2.82 times. Investors had bid for 35.16 million shares against the 12.46 million shares on offer.

Among investor categories, the non-institutional investor (NII) segment saw the strongest demand, with subscriptions reaching 6.59 times. Within this category, the big NII (bNII) portion was subscribed 7.13 times, while the small NII (sNII) segment was booked 5.53 times.

The retail individual investor (RII) portion was subscribed 1.71 times, while the qualified institutional buyer (QIB) category, excluding anchor investors, was subscribed 1.50 times. The employee quota received bids for 2.28 times the shares reserved, while the shareholder category was subscribed 4.00 times.

SBI Funds Management IPO: Price Band And Lot Size

SBI Funds Management has fixed the IPO price band at Rs 545-574 per share.

The minimum application size for retail investors is one lot comprising 26 shares, requiring an investment of Rs 14,924 at the upper price band. Small NIIs need to apply for at least 14 lots (364 shares), amounting to Rs 2.09 lakh, while the minimum application size for big NIIs is 68 lots (1,768 shares), requiring an investment of around Rs 10.15 lakh.

Eligible employees are being offered a discount of Rs 54 per share.

SBI Funds Management IPO GMP Today

The latest grey market premium (GMP) for SBI Funds Management IPO stood at Rs 92 per share as of 8:30 am on July 16, unchanged from the previous day.

Based on the upper end of the price band at Rs 574, the shares are estimated to list around Rs 666 apiece, implying a potential listing gain of about 16.03 per cent. The GMP has moderated from Rs 140 seen earlier this month but has remained in the Rs 88-92 range since the IPO opened.

SBI Funds Management IPO Key Dates

The IPO closes for subscription on July 16, while the basis of allotment is expected to be finalised on July 17.

Successful applicants are likely to receive shares in their demat accounts on July 20, while refunds for unsuccessful bidders are also expected to be processed the same day. The company's shares are scheduled to make their stock market debut on the BSE and NSE on July 21.