SBI Funds Management Ltd
Complete IPO details, including price band, financials, subscription status, and key insights.
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IPO Snapshot
Key metrics and details at a glance.
Price Band
₹574
Per ShareLot Size
26 Shares
Minimum Investment
₹14,924
Issue Size
₹9,795.32 Cr
Face Value
₹1
Per ShareIPO Type
Book Building
Retail Quota
35%
QIB Quota
50%
NII Quota
15%
IPO Timeline
Important dates for your applying strategy.
Subscription Status
Live demand across investor categories.
Track real-time subscription levels:
*Real-time data subject to exchange updates
SBI Funds Management Ltd
Business model, operations, and market positioning.
Promoter Holding (Pre-Issue)
96.38%
Promoter Holding (Post-Issue)
88%
Issue Type
Book Building
ISIN
INE640G01020
About the Company
We are the largest asset management company ("AMC") in India by quarterly average mutual fund assets under management ("QAAUM"), with QAAUM of Rs.12,509.98 billion and a mutual fund market share of 15.3% as of March 31, 2026, a position we have consistently held since March 2021. Including our Portfolio Management Services ("PMS") and other advisory mandates (collectively with PMS, "Alternates"), our total QAAUM was Rs.29,461.05 billion as at March 31, 2026. We are India's oldest AMC, acting as the investment manager to SBI Mutual Fund, which commenced operations in June 1987 as the first mutual fund entity outside the Unit Trust of India. We are also India's largest passive (exchange traded fund ("ETF") and index funds) asset manager with passive (ETF and index funds) QAAUM of Rs.4,055.26 billion representing a market share of 27.9% as at March 31, 2026, a leadership position we have held since March 2021. Our total QAAUM has grown at a compound annual growth rate ("CAGR") of 14.22% between March 31, 2024, and March 31, 2026, while our mutual fund QAAUM has grown at a CAGR of 16.97% during the same period. Our equity, equity-oriented and equity hybrids (excluding arbitrage and including overseas fund of funds) QAAUM grew at a CAGR of 21.79% during the same period.
Company History
Our Company was originally incorporated as `SBI Funds Management Private Limited' as a private limited company under the Companies Act, 1956, at Mumbai, Maharashtra, pursuant to a certificate of incorporation dated February 7, 1992 ("Original COI") issued by the Registrar of Companies, Maharashtra. Pursuant to an intimation made by our Company under Section 43A(2) of the Companies Act, 1956, our Company was converted to a public limited company and the name of our Company changed to `SBI Funds Management Limited'. Consequently, the Original COI was amended by the Registrar of Companies, Maharashtra to reflect such change in our name w.e.f. June 30, 1992. Following the subsequent deletion of Section 43A(2) of the Companies Act, 1956, our Company was converted to a private limited company pursuant to the resolutions of our Board and our Shareholders each dated May 16, 2001, and the name of our Company was changed to `SBI Funds Management Private Limited'. Consequently, the Original COI was amended by the Registrar of Companies, Maharashtra to reflect such change in our name w.e.f. August 24, 2001. Subsequently, our Company was converted to a public limited company and the name of our Company changed to `SBI Funds Management Limited' pursuant to a resolution of our Board dated October 22, 2021 and our Shareholders dated November 23, 2021, and a fresh certificate of incorporation dated December 16, 2021 was issued by the Registrar of Companies, Maharashtra at Mumbai.
Growth Strategy
- Deepen retail penetration in underserved markets by leveraging wide distribution network.
- Strengthen digital capabilities to enhance investor engagement and operational productivity.
- Expansion of product offerings and investment solutions.
- Capture international opportunities through structurally advantaged global positioning.
Financial Performance
Revenue, profit after tax and total assets across the last 3 reported financial years.
Revenue
Amount in ₹ crore
Profit After Tax (PAT)
Amount in ₹ crore
Total Assets
Amount in ₹ crore
Figures in ₹ crore, on a consolidated basis, as reported for FY24 to FY26.
Objects of the Issue
How the company plans to utilize IPO proceeds.
Use of Proceeds
The funds raised through this IPO will be used for:
Initial public offering of 170,956,631 equity shares of face value of Rs. 1 each ("Equity Shares") of SBI Funds Management Limited ("the Company" or "the Company") for cash at a price of Rs. 574 per equity share (including a share premium of Rs. 573 per equity share) ("Offer Price") aggregating to Rs. 9795.32 Crores (the "Offer") through an offer for sale of 99,501,649 equity shares of face value of Rs. 1 each aggregating to Rs. 5701.16 Crores by State Bank Of India and 71,454,982 equity shares of face value of Rs. 1 each aggregating to Rs. 4094.16 Crores by Amundi India Holding (collectively referred to as "Promoter Selling Shareholders", and such equity shares so offered, the "Offered Shares", and such offer, the "Offer For Sale"). The offer includes a reservation of 270,271 equity shares of face value of Rs. 1 each, aggregating to Rs. 14.05 Crores (constituting 0.01% of the post offer paid-up equity share capital of the company, for subscription by eligible SBIFM employees (as defined hereinafter) (the "SBIFM Employee Reservation Portion"), a reservation of 2,987,076 equity shares of face value of Rs. 1 each, aggregating to Rs. 155.33 Crores (constituting 0.15% of the post offer paid-up equity share capital of the company, for subscription by eligible SBI employees (as defined hereinafter) (the "SBI Employee Reservation Portion" and collectively with SBIFM employee reservation portion, the "Employee Reservation Portion") and a reservation of up to 13,055,629 equity shares aggregating to Rs. 749.39 Crores (constituting 7.65% of the offer size), for subscription by eligible SBI shareholders (as defined hereinafter) ("SBI Shareholder Reservation Portion"). The offer less the SBIFM employee reservation portion, SBI employee reservation portion and SBI shareholder reservation portion is hereinafter referred to as the "Net Offer". The offer and the net offer constituted 8.39% and 7.59%, respectively, of the post-offer paid-up equity share capital of the company. Price Band: Rs. 574 per equity share of face value of Rs. 1 each. The floor price is 574 times the face value of the equity shares. Bids can be made for a minimum of 26 equity shares of face value of Rs. 1 each and in multiples of 26 equity shares of face value of Rs. 1 each thereafter. A discount of Rs. 54 per equity share is being offered to eligible employees bidding in the employee reservation portion.
*Subject to approvals and market conditions.
Strengths & Risks
Key competitive advantages and factors to consider before investing.
- Largest asset management company in India in terms of mutual fund assets under management, paragraph 1, page 209), benefitting from strong operating leverage driven by scale and growth.
- Market-leading SIP franchise with a 15.5% market share by live SIP count and strong investor stickiness.
- Dual Parentage - Integration of State Bank of India's domestic franchise with Amundi's global expertise.
- Process-driven investment framework with demonstrated track record of product innovation and consistent investment performance.
- Well-diversified, Pan-India multi-channel distribution infrastructure.
- The company's revenues and profitability is directly linked to its quarterly average assets under management ("QAAUM"), and any material decline or changes in the composition of the company's QAAUM due to market movements, redemptions, or other factors could significantly impact its financial performance.
- Adverse capital market conditions and downturns could reduce the company's AUM and management fee / TER income; its business is further exposed to liquidity risks due to such downturns which in turn could have a spiral/compounding effect on both its equity and debt/money market schemes through higher redemptions and lower SIP inflows, which can accelerate AUM declines and may have a material adverse effect on the company's business, financial condition, results of operations and cash flows.
- A portion of the company's mutual fund QAAUM and revenue from mutual fund operations is concentrated in a limited number of schemes, and any adverse developments affecting these schemes could materially affect its business.
- The company is subject to strict regulatory requirements and prudential norms; its failures to comply with such laws, regulations and norms, including the SEBI (Mutual Funds) Regulations and guidelines thereunder, may have an adverse effect on the company's reputation, registration, business, financial condition, results of operations and cash flows.
- The company is subject to extensive regulation by SEBI and other regulatory authorities. Changes in regulations, failures to comply with regulatory requirements, non-compliance with SEBI's observations made during inspections or adverse outcomes from SEBI inspections could adversely affect its business.