SBI Funds Management Raises ₹1,880 Crore Through Pre-IPO Share Sale Ahead of IPO Launch

SBI Funds Management, the asset management company behind SBI Mutual Fund, has raised ₹1,880 crore through pre-IPO share sale transactions ahead of its upcoming public issue.

According to a regulatory disclosure, SBI Funds Management entered into share purchase agreements with 30 investors for the sale of shares worth ₹1,655 crore. Under the transaction, 28.83 million shares held by promoter State Bank of India were sold to investors at ₹574 per share, which is the upper end of the IPO price band of ₹545 to ₹574 per share.

In addition, Susquehanna Asia Technology and WhiteOak Capital India Opportunities Fund acquired shares worth ₹225 crore from Amundi, one of the promoters of SBI Funds Management. Together, these transactions resulted in a total pre-IPO placement of ₹1,880 crore.

Institutional Investors Participate in SBI Funds Management Pre-IPO Placement

The pre-IPO placement attracted participation from several institutional investors, including family offices, alternative investment funds (AIFs), and financial institutions.

PI Opportunities Fund, managed by Premji Invest, and investor Akash Bhansali were among the largest participants, receiving shares worth ₹200 crore each.

Other investors who participated in the placement include:

• 3P India Equity Fund, associated with investor Prashant Jain, which received shares worth ₹150 crore.

• Four schemes managed by 360 ONE Asset Management received an allotment worth ₹100 crore.

• Two AIF schemes managed by Neo Group, Neo Secondaries Fund and Neo Series I LVF (Large Value Fund) received shares worth ₹100 crore together.

• Tata AIG General Insurance Company, which was allotted shares worth ₹100 crore.

The placement also saw participation from investors such as Hara Global Capital, Bennett Coleman & Co, Malabar India Fund, Carnelian Asset Advisors’ PMS scheme, Dymon Asia, Go Digit General Insurance, and Prudent Corporate Advisory Services.

SBI Mutual Funds IPO Offer Size Reduced After Pre-IPO Transactions

Following the completion of the pre-IPO share sale transactions, the offer-for-sale (OFS) component of the SBI Funds IPO has been revised downward. 

The total offer size now stands at up to ₹9,813 crore, compared with the earlier estimated ₹11,693 crore, calculated at the upper end of the IPO price band.

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 Funds Management Limited Overview 

SBI Funds Management is among the leading asset management companies in India and holds the top position based on quarterly average assets under management (QAAUM). As of March 31, 2026, the company managed assets worth around ₹12.57 lakh crore through SBI Mutual Fund, contributing more than 15% of the total assets managed by the Indian mutual fund industry.

The company offers a broad portfolio of investment products, including equity funds, debt funds, hybrid funds, exchange-traded funds (ETFs), index funds, and other mutual fund schemes. These solutions are designed to meet the investment needs of retail investors, high-net-worth individuals, and institutional investors.

Key Financial Highlights 

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