The initial public offering (IPO) of SBI Funds Management, the largest asset management company (AMC) by quarterly average assets under management (QAAUM) was subscribed 41.6 times on Thursday, the last day of the issue, led by qualified institutional buyers (QIB), who bid 140.11 times.
Non-institutional investors (NII) subscribed 22.51 times, retail investors 3.59 times, shareholders 9.51 times, and employees 4.65 times, according to NSE data of consolidated exchange bids.
The company raised ₹2,663 crore through an anchor allotment on Monday, a day before the launch of its IPO and allotted 46.3 million 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.
The company had priced its IPO at ₹545-574 per share. The ₹9,813 crore IPO comprises an entire 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.
