SBI Funds Management IPO Day 1: Subscription Status, GMP and Key Updates
- 14th July 2026
- 01:00 PM
- 3 min read
Summary
SBI Funds Management's initial public offering opened for subscription on 14 July. The issue was subscribed 23% overall by 11:39 am on Day 1, led by strong employee demand. Grey market premium stood at Rs 100, indicating a potential listing gain of 18%.Mumbai | 14 July 2026
SBI Funds Management, India’s largest asset management company, opened its Rs 9,813 crore initial public offering today. The issue received bids for 2,90,45,640 shares against 12,45,63,536 shares on offer, translating to an overall subscription of about 23% as of 11:39 am on 14 July.
Day 1 Subscription Status
The employee portion led demand on Day 1, followed by non-institutional investors and the shareholder quota.
| Category | Subscription |
| Employee | 57% |
| Non-Institutional Investors (NII) | 35% |
| Shareholder Quota | 32% |
| Overall | 23% |
Grey Market Premium
The grey market premium stood at Rs 100 per share, indicating a potential listing gain of around 18% over the upper end of the price band, according to market tracking platforms Investorgain and IPO Watch.
Grey market premium is an unofficial indicator and does not guarantee actual listing price performance.
Issue Structure and Price Band
The price band is set at Rs 545 to Rs 574 per equity share. The public issue is entirely an offer for sale of 20.37 crore equity shares, meaning the company will not receive any proceeds. The entire amount will accrue to the selling shareholders, State Bank of India and Amundi India Holding. SBI will offload up to 12.83 crore shares, while Amundi will sell up to 7.54 crore shares.
Of the net offer, 50% is reserved for qualified institutional buyers, 15% for non-institutional investors, and 35% for retail investors. The company has also reserved 1.3 crore shares for eligible SBI shareholders, and shares worth Rs 170 crore for eligible employees, who will receive a discount of Rs 54 per share. Retail investors can apply for a minimum of 26 shares, requiring an investment of Rs 14,924 at the upper price band.
Ahead of the public launch, the asset manager raised Rs 1,655 crore through a pre-IPO placement on 10 July, allotting 2.88 crore equity shares to 30 institutional investors at Rs 574 per share. Participants included PI Opportunities Fund-II and investor Akash Manek Bhanshali, each acquiring shares worth approximately Rs 200 crore.
Financial Performance
SBI Funds Management reported a 21% year-on-year rise in net profit to Rs 3,068 crore in FY26, compared to Rs 2,540 crore in FY25 and Rs 2,073 crore in FY24. Revenue from operations rose to Rs 4,389 crore in FY26 from Rs 3,598 crore in FY25, a growth of 22%.
Outlook
The basis of allotment is expected to be finalised on 17 July, with shares tentatively scheduled to debut on the NSE and BSE on 21 July.
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