SBI Funds Management IPO Sees Strong Demand On Second Day of Bidding- Check GMP, Price Band and Lot Size

The subscription window of SBI Funds Management's initial public offering (IPO) is set to close tomorrow, July 16. After witnessing modest demand on the first day of bidding, the SBI Funds Management IPO has been fully subscribed today.

The grey market premium (GMP) for the asset manager's shares hints at a positive debut for the stock. Here is a look at some of the key details related to SBI Funds Management's public issue:

SBI Funds Management IPO GMP

The grey market premium for SBI Funds Management's shares hovered around Rs 88 to Rs 87 per share on the second day of bidding, according to websites which track the demand for shares of unlisted companies. SBI Funds Management shares are expected to make a healthy debut with gains of around 15.16 per cent at Rs 661 per share.

SBI Funds Management IPO Subscription

On the second day of subscription, the SBI Funds Management IPO was booked 2.18 times across investor categories as it received bids for 271.48 million shares compared to the 124.5 million shares offered for subscription.Qualified institutional buyers (QIBs) subscribed to their quota in the public issue 1.39 times. QIBs placed bids for 43.02 million shares against the 30.09 million shares set aside for the category.

Retail investors booked their quota in the public issue 1.35 times as they bid for 72.82 million shares compared to the 54.12 million shares reserved for them.SBI Funds Management IPO has been booked 4.71 times by non-institutional investors (NII) so far. NIIs bid for 109.2 million shares against the 23.19 million shares set aside for non-institutional investors. Employees of the company and shareholders booked their respective quotas 1.96 times and 3.07 times, respectively.

SBI Funds Management IPO Issue Size

SBI Funds Management seeks to raise Rs 9,812.91 crore from its public issue. The asset manager's issue comprises an offer for sale (OFS) of 171 million shares by existing shareholders, with no fresh issue component.

SBI Funds Management IPO Price Band

SBI Funds Management IPO price band was set between Rs 545 and Rs 574 per share. The minimum lot size for retail individual investors was set at 26 shares, which amounts to an investment of Rs 14,924.

SBI Funds Management IPO: Subscription Dates and Listing Date

SBI Funds Management IPO subscription window opened on July 14 and will close on July 16. The basis of allotment for the SBI Funds Management IPO will be announced on July 17. SBI Funds Management will issue refunds for unsuccessful applicants on July 20. SBI Funds Management shares are scheduled to list on the bourses on July 21.

SBI Funds Management: Financials

SBI Funds Management posted a total income of Rs 4,976.11 crore for the financial year ended March 31, 2026, increasing by 17 per cent compared to Rs 4,236.15 crore in the preceding fiscal. The asset management company’s profit after tax rose by 21 per cent to Rs 3,067.38 crore in the fiscal year ended March 31, 2026, compared to Rs 2,540.15 crore in the preceding fiscal. The company’s net worth stood at Rs 5,963.06 crore in FY26 compared to Rs 8,297.53 crore in the preceding fiscal.

SBI Funds Management IPO: Registrar

The registrar for SBI Funds Management IPO is KFin Technologies, and the book-running lead manager for the issue is Kotak Mahindra Capital Co.

SBI Funds Management: Promoters

The promoters of the company include State Bank of India and Amundi India Holding. The promoters of the asset management company held a 98.02 per cent stake in the company pre-issue; their collective shareholding will reduce to 87.2 per cent post the issue. SBI will hold 54.46 per cent stake in the company, and Amundi will hold 32.56 per cent stake once the issue concludes.

About SBI Funds Management

SBI Funds Management is India's largest asset management company (AMC) based on assets under management. The company manages SBI Mutual Fund and offers a diversified suite of investment solutions, including equity funds, debt funds, hybrid funds, exchange-traded funds (ETFs), and portfolio management services.