SBI Funds Management Ltd., the asset management arm of State Bank of India (SBI), has announced the details of its much-awaited initial public offering (IPO), which is scheduled to open for subscription on July 14, 2026. Valued at ₹11,692.91 crore, the offering is set to become the largest IPO of the year so far.
The company has fixed the IPO price band at ₹545 to ₹574 per equity share, with each share carrying a face value of ₹1. The public issue consists entirely of an Offer for Sale (OFS) of more than 20 crore equity shares, meaning no new shares will be issued and the company will not receive any proceeds from the offering. Instead, the funds raised will go to the selling shareholder.
At the upper end of the price band, SBI Funds Management is expected to command a market valuation of nearly ₹1.17 lakh crore, making it one of India’s most valuable asset management companies.
Currently, State Bank of India holds a 98.19% stake in SBI Funds Management. Following the completion of the IPO, SBI’s shareholding is expected to reduce to 88.19%, while continuing to retain a significant majority stake and remaining comfortably above the minimum public shareholding requirement.
The IPO is expected to attract strong interest from investors, given the company’s leadership position in India’s asset management industry and the growing demand for mutual fund investments in the country.