Shares of SBI Funds Management, India’s largest asset management company, made a strong debut on the stock market today.
The stock listed at ₹613.30 on the NSE and ₹610 on the BSE, giving investors who bought the IPO a listing gain of up to ₹39.30 per share.
The IPO was priced between ₹545 and ₹574 per share and remained open for subscription from July 14 to July 16. The issue was entirely an Offer for Sale (OFS), meaning no new shares were issued by the company.
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IPO Money Went to Promoters
Since the IPO was an Offer for Sale, the company did not receive any fresh funds. Instead, the proceeds went to the existing promoters.
SBI sold 99.5 million shares.
Amundi India Holding sold 71.45 million shares.
After the sale, SBI’s stake in the company stands at 60.32%, while Amundi’s stake has reduced to 36.06%.
Investors Showed Strong Interest
The SBI Funds Management IPO received an overwhelming response from investors. Overall, the issue was subscribed 41.73 times.
Here is how different investor categories responded:
Retail Investors: 3.76 times
Qualified Institutional Buyers (QIBs): 140.11 times
Non-Institutional Investors (NIIs): 22.51 times
The strong demand reflected high confidence in the company’s growth and market position.
Top Global Investors Backed the IPO
Before the public issue opened, SBI Funds Management raised ₹2,662.96 crore from anchor investors.
A total of 129 anchor investors participated, including global names such as BlackRock, Abu Dhabi Investment Authority (ADIA), Morgan Stanley, Goldman Sachs, and the Massachusetts Institute of Technology (MIT).
India’s Largest Asset Management Company
Founded in 1987, SBI Funds Management is the largest asset management company (AMC) in India based on quarterly average assets under management (AUM).
As of March 31, 2026, the company managed ₹12.51 lakh crore in assets and held a 15.3% share of India’s mutual fund market, making it one of the country’s biggest players in the investment industry.