Summary of this article
SBI Funds Management IPO allotment gets finalized today.
Public issue received strong response, subscribed 41.66 times.
Shares will debut on BSE and NSE Tuesday.
The subscription window of SBI Funds Management's initial public offering (IPO) closed on July 16. The asset management company (AMC) saw sustained investor interest during its three-day bidding period. Following the closing of the bidding window, the share allotment status of the SBI Funds Management IPO is scheduled to be finalised on July 17.
SBI Funds Management IPO Subscription Details
SBI Funds Management IPO offer size is entirely an offer for sale (OFS) of 171 million shares, aggregating up to Rs 9,812.91 crore, with no fresh issue component. Notably, the AMC is a joint venture between the State Bank of India and Amundi. Amundi and SBI will dilute their stake in the company as part of the public issue.
The AMC’S public issue generated interest across investor categories during its bidding window, as it was subscribed 41.66 times, receiving bids for 518.95 million shares compared to 124.56 million shares offered for subscription. Employees and shareholders of the company booked their respective quotas 4.65 times and 9.52 times, respectively. Non-Institutional Investors (NIIs) and Qualified Institutional Buyers(QIBs) booked their respective quotas 22.51 times and 140.11 times, respectively. Retail investors booked their quota in SBI Funds Management’s public issue 3.60 times.
SBI Funds Management IPO GMP
Ahead of the share allotment, SBI Funds Management shares are being actively tracked in the unlisted market. Investors are keeping a close watch on the grey market premium (GMP) to gauge the expected listing price and potential premium over the upper end of the issue's price band. The grey market premium for the company’s shares is currently ranging between Rs 92 and Rs 97. Based on the upper end of the price band, the stock is likely to list at Rs 671 apiece with an estimated premium of 16.90 per cent.
SBI Funds Management IPO Allotment
Investors who applied for the SBI Funds Management IPO can view the status of their share allotment through the official registrar, KFin Technologies, or through the BSE and NSE websites once the basis of allotment is finalised.
Steps To Check SBI Funds Management IPO Allotment on NSE
Head to the official NSE tracking page for IPO bids: nseindia.com/invest/check-trades-bids-verify-ipo-bids
Select "Equity" under the issue type.
Find and select "SBI Funds Management" from the drop-down list.
Enter your PAN and IPO application number.
Click the Submit button to see your allotment status.
How To See SBI Funds Management IPO Allotment Status on the BSE Website
Head to the BSE investor application status portal: bseindia.com/investors/appli_check.aspx
Select the "Equity" button.
Pick "SBI Funds Management" from the available active issues menu.
Type in the PAN number used for the application or your application number.
Click "Search" to see the share allocation status.
Steps To Check SBI Funds Management IPO Share Status On Registrar Website:
Head to the official allotment page of KFin Technologies
(ris.kfintech.com/ipostatus/).Select "SBI Funds Management" from the company drop-down list.
Select which credential to search the allocation by: Application Number, Demat Account, or PAN.
Type in the details into the text box.
Click the "Search" button to view your exact share allocation.
SBI Funds Management IPO Details
The SBI Funds Management IPO is a book-built issue worth Rs 9,812.91 crore. The price band for the issue was fixed between Rs 545 and Rs 574 per share. Retail investors were required to bid for a minimum lot size of 26 shares, requiring a minimum investment of Rs 14,924.
SBI Funds Management IPO Listing Date
The basis of allotment for the SBI Funds Management IPO is scheduled to be finalised on July 17. The initiation of refunds and the credit of shares to successful investors' demat accounts will take place on July 20. SBI Funds Management shares are set to make their stock market debut on both the NSE and BSE on Tuesday, July 21.
