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SBI Funds Management Ltd IPO
SBI Funds Management Ltd
₹14,170 /26 sharesMinimum investment
IPO details
Minimum investment
₹14,170
Price range
₹545 - ₹574
Lot size
26
Issue size
9,812.91 Cr
Face value
1
IPO document
Subscription rate
Data will be available soon
Schedule
14 Jul 2026
IPO open date
16 Jul 2026
IPO close date
17 Jul 2026
Allotment date
17 Jul 2026
Funds unblock or debit
21 Jul 2026
Tentative listing date
About
Founded in
1992
MD/CEO
Nand Kishore
Parent organisation
SBI Funds Management Ltd
SBI Funds Management Ltd IPO
https://www.youtube.com/watch?v=zrElZu8OZHo
SBI Funds Management Financials
Revenue
Total Assets
Profit
All values are in ₹ Cr
Strengths & Risks
Strengths
Risks
The company is the largest asset management company (AMC) in India by mutual fund quarterly average assets under management (QAAUM), with a market share of 15.3% as of March 31, 2026. It is also India’s largest passive asset manager and the largest portfolio management services (PMS) provider, with a 39.7% market share in the PMS segment, according to the CRISIL report.
The company manages a diversified portfolio of investment products across mutual funds, PMS, alternative investment funds (AIFs), specialised investment funds (SIFs), and advisory mandates. As of March 31, 2026, it managed 128 mutual fund schemes serving around 18 million unique investors, reducing dependence on any single scheme or product category.
The company claims to benefit from its joint ownership by State Bank of India (SBI) and Amundi Asset Management. It leverages SBI’s domestic banking network and digital platforms such as YONO, while also accessing Amundi’s global investment expertise and international distribution network across multiple countries.
The company claims to have a pan-India distribution network supported by 132,519 mutual fund distributors, including independent financial advisors, national distributors, and banks. It also has a significant digital presence through its InvesTap application, website, Partner and Mitra platforms, with digital channels accounting for over 94% of its transactions during FY26.
The company is ISO/IEC 27001:2022 certified for its information security management system. It operates a technology infrastructure with hybrid cloud architecture, disaster recovery systems, multi-factor authentication, encryption, and real-time fraud detection to support its digital investment platform.
The company has an investment team of 71 investment professionals with an average tenure of nine years within the company. It follows a team-based investment approach supported by dedicated research teams covering more than 450 companies and over 250 fixed income issuers, along with separate investment processes for equity and fixed income portfolios.
The company has witnessed a consistent increase in its revenue from operations and profit after tax (PAT). Revenue from operations increased from Rs 2,690.55 crore in FY24 to Rs 3,597.76 crore in FY25 and Rs 4,389.49 crore in FY25. PAT increased from Rs 2,072.78 crore in FY24 to Rs 2,540.15 crore in FY25 and Rs 3,067.38 crore in FY26.
The company operates in a highly regulated industry and is subject to extensive oversight by SEBI and other regulatory authorities. It has also received administrative warnings, deficiencies, and advisories during SEBI inspections relating to its mutual fund, portfolio management, and registrar operations in recent years, although it claims to have taken corrective measures. Any adverse regulatory changes, future inspection findings, penalties, or restrictions on launching new schemes could negatively impact the company’s business, profitability, and reputation.
The company relies heavily on its distribution network to acquire and retain investors. As of March 31, 2026, its top five distributors accounted for Rs 3,06,899 crore (25.26%) of its mutual fund assets under management (AUM), compared with Rs 2,78,252 crore (26.20%) in 2025 and Rs 2,35,951 crore (25.38%) in 2024. Any deterioration in relationships with key distributors, regulatory changes affecting distributor compensation, or disruptions across its distribution network could adversely impact the company’s AUM growth, revenue, and profitability.
A significant portion of the company’s mutual fund QAAUM is concentrated in a limited number of schemes. As of FY26, the top five schemes accounted for Rs 5,32,535 crore (42.57%) of total mutual fund QAAUM, while the top 10 schemes contributed Rs 7,43,950 crore (59.47%). Any adverse developments affecting these schemes, including weak investment performance, higher investor redemptions, or regulatory actions, could adversely affect the company’s assets under management, revenues and profitability.
The company derives a significant portion of its mutual fund AUM from B-30 cities, which accounted for Rs 277,277 crore (22.82%), Rs 244,709 crore (23.04%), and Rs 201,222 crore (21.64%) as of March 31, 2026, 2025, and 2024, respectively. Investors from these markets may exhibit higher redemption rates during periods of market volatility. Any adverse market conditions, regulatory changes affecting B-30 incentives, or higher-than-expected redemptions from these regions could adversely impact the company’s AUM, revenue, and financial performance.
Passive investment products accounted for Rs 405,526 crore (32.42%), Rs 341,686 crore (31.85%), and Rs 318,201 crore (34.80%) of the company’s mutual fund AUM as of March 31, 2026, 2025, and 2024, respectively. Since passive products generally generate lower management fees than actively managed funds, any significant shift in investor preference towards passive investments could reduce the company’s revenue, profitability, and operating margins.
The company and its promoters are involved in certain ongoing legal proceedings. Any adverse judgment in these matters could adversely affect the company’s business, financial condition, and reputation.
A significant number of the company’s mutual fund schemes have underperformed their respective benchmarks and peer schemes in recent years. As of FY26, 11 out of 128 schemes (8.59%) with AUM of Rs 94,109 crore (12.69% of ranked AUM) were in the bottom quartile based on three-year returns. Underperformance over the long term could lead to higher investor redemptions and lower AUM, which could negatively impact the company’s reputation and profitability.
The company has contingent liabilities amounting to Rs 176.21 crore as of FY26, compared to Rs 165.60 crore in FY25 and Rs 33.84 crore in FY24. If any of these contingent liabilities materialise, it could adversely affect the company’s financial condition and cash flows.
The company is subject to an outstanding GST demand of Rs 131.93 crore (excluding applicable interest) relating to input tax credit claimed on distribution commissions. Any adverse outcome in this matter could adversely affect the company’s financial condition and results of operations.
Application details
For SBI Funds Management IPO, eligible investors can apply as Regular, Employee & Shareholder.
| Apply as | Price band | Apply range | Lot size |
|---|---|---|---|
| Regular | ₹545 - ₹574 | Upto ₹2 Lakhs | 26 |
| Employee | ₹491 - ₹520 | Upto ₹5 Lakhs | 26 |
| Shareholder | ₹545 - ₹574 | Upto ₹2 Lakhs | 26 |
| High Networth Individual | ₹545 - ₹574 | ₹2 - ₹5 Lakhs | 26 |