SBI Funds Management IPO
SBI Funds Management IPO — dates, price band, GMP & allotment.
Timetable
Issue Summary
| Price Band | ₹545-574 |
| Face Value | ₹1 |
| Lot Size | 26 Shares |
| Issue Size | ₹9795.31 Cr |
| Sale Type | 100% Offer for Sale (OFS) |
| Listing On | BSE, NSE |
| NSE Symbol | SBIFUNDS.NS |
| BSE Scrip Code | 7829 |
| Min Investment | ₹14,924 |
Reservation
What Will It Cost Me?
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 26 | ₹14,924 |
| Retail (Max) | 13 | 338 | ₹194,012 |
| S-HNI (Min) | 14 | 364 | ₹208,936 |
| B-HNI (Min) | 68 | 1,768 | ₹1,014,832 |
Strengths & Risks
Strengths
- India's largest asset management company by assets under management.
- Strong backing from SBI and Amundi enhances credibility and distribution reach.
- Diversified product portfolio across mutual funds, ETFs and PMS services.
- Large investor base provides stable and recurring fee income.
- Asset-light business model generates strong profitability and return ratios.
Risks
- Revenue is closely linked to market performance and investor sentiment.
- Fee compression in the mutual fund industry may impact margins.
- Intense competition from other AMCs can affect market share growth.
- Regulatory changes in the mutual fund sector may impact operations and earnings.
- The issue is a pure Offer for Sale, with no fresh capital flowing into the company.
Valuation & Key Ratios
Financials (Rs. Crore)
| Metric | 31 Mar 26 | 31 Mar 25 | 31 Mar 24 |
|---|---|---|---|
| Revenue | 4,976.11 | 4,236.15 | 3,426.08 |
| OPM % | |||
| EBITDA | 4,058.44 | ||
| Net Profit | 3,067.38 | 2,540.15 | 2,072.79 |
| Debt | |||
| Assets |
About The Company
SBI Funds Management Limited was incorporated in 1992 and is the asset manager of SBI Mutual Fund, India's largest mutual fund house. The company is promoted by State Bank of India and Amundi, Europe's largest asset manager, through a long-standing joint venture. It is the largest asset management company in India with a quarterly average mutual fund AUM of about ₹12.51 lakh crore as of 31 March 2026, a mutual fund market share of around 15.3%, and a leading 27.9% share in passive (ETF and index) funds.
Beyond mutual funds, the company manages portfolio management services, alternative investment funds and offshore mandates, taking its total quarterly average assets under management to about ₹29.46 lakh crore. Its scale, the SBI brand and distribution network, and a high-margin asset-light model make it one of the most profitable AMCs in the country, with a PAT of ₹3,067 crore on total income of ₹4,976 crore in FY26.
Company & Registrar
Subscription By Category
| Category | Subscribed | Shares Offered | Shares Bid For |
|---|---|---|---|
| Qualified Institutional Buyers (QIB) | 140.11× | 30,928,731 | — |
| Non-Institutional Investors (NII) | 22.51× | 23,196,549 | — |
| Retail Individual Investors (RII) | 3.6× | 54,125,280 | — |
| Employee | 4.65× | 3,257,347 | — |
| Shareholder | 9.52× | 13,055,629 | — |
| Total | 41.66× | 124,563,536 | — |
GMP History
| Date | GMP | % Over Issue Price |
|---|
Anchor Investors
| Investor | Category | Shares Allotted | Value |
|---|
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