Ahead of its much-anticipated stock market debut, SBI Funds Management Limited is looking to secure up to ₹2,000 crore from institutional investors through a pre-IPO placement, according to media reports.

The placement will form part of the company's proposed ₹11,400 crore Offer for Sale (OFS), which could reduce the size of the public issue to around ₹9,500 crore if the transaction is completed before the IPO opens. The company had earlier filed its Draft Red Herring Prospectus (DRHP) with SEBI for the proposed listing.

SBI Funds Management IPO - Issue Details

Issue Type: Book Building IPO
Issue Size: Up to 20.37 crore equity shares
Fresh Issue: Not Applicable
Offer for Sale (OFS): Up to 20.37 crore equity shares
Face Value: ₹1 per equity share
Price Band: Yet to be announced
Lot Size: Yet to be announced
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 IPO Structure

The proposed IPO is entirely an Offer for Sale (OFS) of up to 20.37 crore equity shares by the existing shareholders of SBI Funds Management.

Under the Offer for Sale:

State Bank of India (SBI) will divest up to 12.83 crore equity shares and
Amundi India Holding will sell up to 7.53 crore equity shares.

As there is no fresh issue component, SBI Funds Management will not receive any funds from the offering. The proceeds from the share sale will be received by the selling shareholders.

About SBI Funds Management Limited

Founded in 1992, SBI Funds Management Limited serves as the investment manager for SBI Mutual Fund, a joint venture between State Bank of India and Amundi Asset Management. The company manages a broad portfolio of mutual fund schemes spanning equity, debt, hybrid, exchange-traded funds (ETFs), and passive investment products.

Over the years, it has built one of the country's largest investor franchises through an extensive distribution network, digital investment platforms and institutional partnerships, making it the largest mutual fund asset manager in India by Quarterly Average Assets Under Management (QAAUM).

SBI Funds Management's AUM and Market Position

SBI Funds Management is the largest mutual fund asset management company in India by Quarterly Average Assets Under Management (QAAUM), reflecting its strong market position and extensive investor base.

As of December 31, 2025, the company reported:

Quarterly Average Assets Under Management (QAAUM): ₹12.47 lakh crore
Assets Under Management (AUM): ₹13.67 lakh crore
Market Share (based on QAAUM): 15.4%

Key Financial Highlights

Particulars	FY25 (in ₹ crore)	FY24 (in ₹ crore)	FY23 (in ₹ crore)
Revenue from operations	3,597.76	2,690.56	2,161.59
EBITDA	3,412.94	2,718.82	1,810.41
EBITDA Margin	94.86 %	101.05 %	83.75 %
Profit After Tax	2,540.15	2,072.79	1,339.71