• State Bank of India (SBI) and Amundi India Holding have sold 3.27 crore shares in the pre-ipo round

MUMBAI, NATIONAL, 12 JULY, 2026|GPN, NEWSMAN SACHIN: SBI Funds Management (the “Company”), which is the largest asset management company (AMC) in India by quarterly average mutual fund assets under management (QAAUM), has completed its pre-IPO (Initial Public Offering) placement of around Rs 1,880 crore.

The Company, in consultation with the Book Running Lead Managers to the IPO has undertaken a private placement of 32,752,608 equity shares for cash considerations, at an issue price of Rs 574 per equity share (including a premium of Rs 573 per equity share) which saw participation from WhiteOak Capital, 3P India Equity Fund 1, Tata AIG General Insurance Company Limited, Dymon Asia Multi-Strategy Investment (Singapore) Pte. Ltd and Bennett Coleman & Co Ltd, amongst others.

3P India Equity Fund 1 was allocated 26,13,240 equity shares of the company for Rs 574 per equity share each aggregating to Rs 149.99 crore. Tata AIG General Insurance Company Limited was allocated 17,42,160 equity shares of the company for Rs 574 per equity share each aggregating to Rs 99.99 crore, WhiteOak Capital India Opportunities Fund was allocated 1,742,160 equity shares of the company for Rs 574 per equity share each aggregating to Rs 99.99 crore.

Dymon Asia Multi-Strategy Investment (Singapore) Pte. Ltd was allocated 4,35,540 equity shares of the Company for Rs 574 per equity share each aggregating to Rs 24.99 crore. Bennett Coleman & Co Ltd was allocated 8,71,080 equity shares of the Company for Rs 574 per equity share each aggregating to Rs 49.99 crore.

As per the public disclosure, post the Pre-IPO the offer-for-sale is now up to 170,956,631 Equity shares of face value of Re 1 each.

IPO Details

The Initial Public Offering (“IPO” or “Offer”) of the Company will open on Tuesday, July 14, 2026, for subscription and close on Thursday, July 16, 2026.

Investors can bid for a minimum of 26 Equity Shares and in multiples of 26 Equity Shares thereafter.

The Offer is being made through the book-building process, wherein not more than 50% of the net offer is allocated to qualified institutional buyers, and not less than 15% and 35% of the net offer is assigned to non-institutional bidders and retail individual bidders respectively. In addition, the Offer also includes reservations for eligible SBI shareholders and eligible SBIFM employees and SBI employees. Eligible SBIFM employees and SBI employees bidding in the Employee Reservation Portion are being offered a discount of Rs 54 per Equity Share.

Kotak Mahindra Capital Company Limited, Axis Capital Limited, BofA Securities India Limited, HSBC Securities and Capital Markets (India) Private Limited, ICICI Securities Limited, Jefferies India Private Limited, JM Financial Limited, Motilal Oswal Investment Advisors Limited, and SBI Capital Markets Limited are the book-running lead managers, and KFin Technologies Limited is the registrar of the Offer.

About the Company

Originally incorporated in 1992 as a private limited and converted into a public limited company pursuant to an intimation, the company is the largest asset management company (“AMC”) in India by quarterly average mutual fund assets under management (“QAAUM”), with QAAUM of Rs 12,509.98 billion and a mutual fund market share of 15.3% as of March 31, 2026, a position that it has consistently held since March 2021 (Source: CRISIL Report, paragraph 1, page 209). Including its Portfolio Management Services (“PMS”) and other advisory mandates (collectively with PMS, “Alternates”), its total QAAUM was Rs 29,461.05 billion as at March 31, 2026. The company is India’s oldest AMC, acting as the investment manager to SBI Mutual Fund, which commenced operations in June 1987 as the first mutual fund entity outside the Unit Trust of India (Source: CRISIL Report, paragraph 1, page 216).

The company is also India’s largest passive (exchange traded fund (“ETF”) and index funds) asset manager with passive (ETF and index funds) QAAUM of Rs 4,055.26 billion representing a market share of 27.9% as at March 31, 2026, a leadership position it has held since March 2021 (Source: CRISIL Report, paragraph 1, page 210).

Its total QAAUM has grown at a compound annual growth rate (“CAGR”) of 14.22% between March 31, 2024, and March 31, 2026, while its mutual fund QAAUM has grown at a CAGR of 16.97% during the same period.