SBI Funds Management raises ₹2,663 cr from anchor investors ahead of IPO

SBI Funds Management raised ₹2,663 crore from anchor investors ahead of its Rs 9,813 crore IPO, which opens on 14 July at a price band of ₹545-574 per share

SBI Funds Management, India’s largest asset management company (AMC) by quarterly average assets under management (QAAUM), raised ₹2,663 crore through an anchor allotment on Monday, a day before the launch of its initial public offering (IPO).

The company informed the stock exchanges that it had allocated 4.63 crore shares to anchor investors at ₹574 per share.

 

Prominent institutional investors that participated in the anchor allotment included BlackRock, Goldman Sachs, HDFC Mutual Fund, ICICI Prudential, Life Insurance Corporation of India (LIC), Nomura India and the Abu Dhabi Investment Authority.

 

SBI Funds Management has priced its IPO at ₹545-574 per share. The ₹9,813 crore IPO comprises entirely an offer for sale (OFS) by the company’s promoters, State Bank of India and Amundi India Holding. At the upper end of the price band, the company is valued at ₹1.2 trillion.

 

 

SBI Funds Management is India’s largest AMC, with a QAAUM of ₹12.51 trillion and a market share of 15.3 per cent as of 31 March 2026. It is also India’s oldest AMC, having begun operations in June 1987 as the first mutual fund entity established outside the Unit Trust of India.

 

The public issue will open for subscription on 14 July and close on 16 July. The mega IPO is being seen as a crucial test of institutional and retail investor appetite ahead of a busy pipeline of several other big-ticket issuances.

 

By the end of June 2026, 27 companies had raised ₹22,572 crore through IPOs in India during the year, compared with 24 IPOs in the same period last year, which raised ₹45,375 crore.