SBI Funds Management IPO Day 1: Check GMP, Subscription Status & Key Issue Details

The ₹9,812.91 crore SBI Funds Management IPO opened for subscription today, July 14, 2026, with a price band of ₹545 to ₹574 per share. As of 10:15 AM on Day 1, the issue was subscribed 0.06 times, while the Grey Market Premium (GMP) stands at around ₹100 over the issue price.

The issue will remain open until July 16, 2026. The basis of allotment is expected to be finalised on July 17, 2026, and the shares are tentatively scheduled to list on the NSE and BSE on July 21, 2026.

SBI Funds Management IPO - Issue Details

• Issue Type: Book Built Issue (OFS Only)
• Total Issue Size: Up to ₹9,812.91 crore 
• Fresh Issue: Not Applicable
• Offer for Sale (OFS): Up to ₹9,812.91 crore 
• Face Value: ₹1 per equity share
• Price Band: ₹545 to ₹574
• Lot Size: 26 shares
• Minimum Investment Amount (Retail Investor): ₹14,924 (26 shares) (based on upper price)
• Listing: NSE, BSE
• Book Running Lead Managers: Kotak Mahindra Capital Company Limited, Axis Capital Limited, BofA Securities India Limited, HSBC Securities and Capital Markets (India) Private Limited, ICICI Securities Limited, Jefferies India Private Limited, JM Financial Limited, Motilal Oswal Investment Advisors Limited and SBI Capital Markets Limited. 
• Registrar: KFin Technologies Limited

SBI Mutual Fund IPO Timeline (Tentative)

The expected IPO schedule is as follows:

Note: The allotment and listing dates are tentative and may be revised.

SBI Funds Management IPO Day 1 Subscription Status

[July 14, 2026, 10:15 AM]

SBI Mutual Fund IPO GMP Today

According to media reports, the SBI Funds Management IPO is commanding a Grey Market Premium (GMP) of around ₹100 per share, representing a premium of nearly 17.42% over the upper end of the issue price band of ₹574. 

SBI Funds Management IPO Structure: Pure OFS Issue

The proposed IPO is entirely an Offer for Sale (OFS) of up to 17.09 crore equity shares by the existing shareholders of SBI Funds Management.

• State Bank of India (SBI) will divest up to 9.95 crore equity shares and
• Amundi India Holding will sell up to 7.14 crore equity shares.

The revised OFS size follows the pre-IPO share sale transactions, wherein SBI sold 2.88 crore equity shares and Amundi India Holding sold 39.19 lakh equity shares through share purchase agreements dated July 9, 2026.

About SBI Funds Management Limited

Incorporated in 1992, SBI Funds Management Limited (SBIFM) serves as the investment manager of SBI Mutual Fund and is among India’s leading asset management companies. A joint venture between the State Bank of India and Amundi Asset Management, the company provides a range of investment solutions, including mutual funds, portfolio management services (PMS), alternative investment funds (AIFs), specialised investment funds (SIFs), and advisory services across multiple asset classes.

As of December 31, 2025, SBI Funds Management reported quarterly average assets under management (QAAUM) of ₹29.04 lakh crore and catered to more than 16.05 million investors. The company held approximately 15.5% of India’s mutual fund industry AUM in 2025 and distributes its products through an extensive nationwide network along with digital investment platforms.

Key Financial Highlights 

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