SBI Funds Management Ltd (SBIFM), India's largest asset management company by quarterly average mutual fund assets under management (QAAUM), has fixed the price band for its maiden initial public offering (IPO) at ₹545 to ₹574 per equity share of face value ₹1 each.
The IPO will open for public subscription on Tuesday, July 14, 2026, and close on Thursday, July 16, 2026. The anchor investor bidding will take place on Monday, July 13, 2026. Investors can bid for a minimum of 26 equity shares and in multiples of 26 thereafter.
The public issue is entirely an offer for sale (OFS) of up to 203.71 million equity shares by existing shareholders. Based on the price band, the issue size is estimated at ₹11,102 crore at the lower end and ₹11,692 crore at the upper end.
Originally incorporated in 1992, SBIFM is the investment manager to SBI Mutual Fund, India's oldest mutual fund outside the erstwhile Unit Trust of India. As of March 31, 2026, the company managed mutual fund QAAUM of ₹12.51 lakh crore, accounting for a 15.3% market share, while its total QAAUM, including portfolio management services and alternative mandates, stood at ₹29.46 lakh crore.
The company is also India's largest passive asset manager, with passive fund QAAUM of ₹4.06 lakh crore and a 27.9% market share. Its total QAAUM recorded a CAGR of 14.22% between March 2024 and March 2026.
The promoters are State Bank of India (SBI), Amundi India Holding and Amundi Asset Management. The IPO includes reservations for eligible SBI shareholders, SBI employees and SBIFM employees, with employees receiving a ₹54 per share discount.