Ahead of SBI Funds IPO, SBI sells 1.4%

Story by Author: NDTV Profit Desk

Stake Sale: State Bank of India sold a 1.4% stake in SBI Funds Management for Rs 1,655 crore to 30 key investors at Rs 574 per share.

Valuation: The sale values the AMC at over Rs 1.18 lakh crore, signaling strong market interest ahead of the IPO.

IPO Outlook: This move sets the tone for the upcoming public issue, highlighting investor confidence and market momentum.

State Bank of India divested a 1.4% stake in SBI Funds Management for Rs 1,655 crore late on Friday, ahead of the AMC's public issue.

According to an exchange filing, SBI sold 2.9 crore shares to 30 key investors at Rs 574 per share.

The transaction values SBI Funds Management at over Rs 1.18 lakh crore and sets the tone for the upcoming IPO.

SBI Funds Management IPO details

SBI Funds Management, India's largest asset management company by mutual fund assets, is all set to launch an initial public offering (IPO) to raise almost Rs 11,700 crore from the primary market. There is no fresh issue, so the company will not receive any proceeds.

Issue Details And Timeline

- Price band: Rs 545 - Rs 574 per share

- Lot size: 26 shares

- Minimum retail application: Rs 14,924 (at upper end of price band)

- Anchor investor book: July 13, 2026

- Subscription window: July 14 - 16, 2026

- Basis of allotment: July 17, 2026

- Refunds and demat credit: July 20, 2026

Allocation Breakdown

- Qualified institutional buyers (QIBs): 50%

- Large HNIs (non-institutional): 10%

- Small HNIs (non-institutional): 5%