SBI Funds Management is set to launch its initial public offering (IPO) on July 14, aiming to raise ₹11,693 crore from the primary market, according to livemint.com. The subscription window will remain open until July 16. The IPO price band is fixed between ₹545 and ₹574 per share, positioning it as the largest IPO of 2026 so far.
The book-building issue includes a reservation of up to 1.3 crore equity shares specifically for eligible State Bank of India (SBI) shareholders. To qualify, SBI shareholders must have a valid Permanent Account Number (PAN) updated in SBI’s shareholder records and hold a demat account, as shares will be allotted only in dematerialised form, livemint.com reported. The IPO is expected to attract significant investor interest given its scale and backing.
This IPO marks a major fundraising event in India’s financial sector, reflecting strong market confidence in SBI Funds Management. The ₹11,693 crore target surpasses other recent public offerings, underscoring the company’s growth ambitions and investor appetite for asset management firms. The reserved quota for SBI shareholders also highlights the strategic link between the parent bank and its asset management arm, a structure common in Indian financial markets.
The IPO subscription period will close on July 16, after which the allotment process will begin. SBI Funds Management’s listing on the stock exchange will be closely watched by market participants, given the projected 15% listing gains indicated by the grey market premium, as noted by livemint.com.