SBI Funds Management Launches $1.2 Billion Indian IPO

SBI Funds Management Ltd, India's largest asset manager, launched its initial public offering on July 14, 2026, with a price band of ₹545 to ₹574 per share. The offering is structured entirely as an offer for sale of approximately 10% of the company's equity, with State Bank of India and Amundi India Holding divesting a combined 203.71 million shares. The company is seeking a valuation of approximately ₹1.17 trillion ($12.24 billion).

The total issue size was adjusted from an initial ₹11,693 crore to approximately ₹9,813 crore following a pre-IPO placement where State Bank of India sold a 1.42% stake to 30 institutional investors for ₹1,655 crore. Before the public subscription opened, the company raised $278.5 million from anchor investors, including the Government of Singapore, the Abu Dhabi Investment Authority, BlackRock, and the Life Insurance Corporation of India.

CEO Debasish Mishra confirmed that the launch timeline remained unaffected by market volatility triggered by US President Donald Trump ending a ceasefire with Iran. Mishra stated the IPO aims to revive investor confidence and bolster market sentiment. The company intends to use its listing to scale institutional fund management and expand digital delivery to 100 million customers. The subscription period runs through July 16, 2026, with the stock expected to list on the National Stock Exchange and BSE on July 21.