SBI Funds Management Ltd, a subsidiary of State Bank of India, filed its red herring prospectus for an initial public offering (IPO) worth up to ₹11,693 crore. The price band for the equity shares is set between ₹545 and ₹574 per share. The IPO will open for subscription on 14 July, marking the largest IPO launch on D-street so far in 2026, according to livemint.com.
The announcement of the price band followed the company’s filing late Wednesday. Prior to this, SBI Funds shares traded at approximately ₹830 per share in the unlisted market. At the upper end of the price band, SBI Funds will have a market capitalization close to ₹1.17 trillion. The company’s public issue is expected to attract significant investor interest given its size and backing by SBI, as reported by livemint.com.
This IPO stands out as the biggest in India’s asset management sector this year, reflecting growing investor appetite for financial services firms. Comparable large IPOs in recent years have included other financial institutions backed by government entities. SBI Funds’ public listing is poised to enhance its visibility and access to capital, which is crucial for expanding its asset base and competing with established players in the mutual fund industry, according to market data from livemint.com.
The subscription for SBI Funds’ IPO will commence on 14 July, with the price band fixed at ₹545-574 per share. This public offering is set to be a key event on the Indian stock market calendar in 2026, with the company’s valuation nearing ₹1.17 trillion at the upper price band, as detailed by livemint.com.