New Delhi: The initial public offer of SBI Funds Management Ltd got fully subscribed on the second day of bidding on Wednesday, ending the day with 2.77 times subscription.
The Rs 9,812.91-crore IPO received bids for 34,54,27,290 shares against 12,45,63,536 shares on offer, registering 2.77 times subscription, as per NSE data.
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The category for non-institutional investors attracted 6.58 times subscription and the quota for retail investors received 1.61 times subscription. The portion meant for Qualified Institutional Buyers (QIBs) got subscribed 1.50 times.
SBI Funds Management earlier raised Rs 2,663 crore from anchor investors.
The anchor book saw participation from global investors such as GIC, Abu Dhabi Investment Authority, Capital World Investors, BlackRock, Fidelity Management & Research, Goldman Sachs Asset Management and Norges Bank, alongside leading domestic institutions like Life Insurance Corporation of India (LIC), HDFC Mutual Fund (MF), ICICI Prudential MF, Nippon India MF and HDFC Life Insurance.
The IPO will close on July 16. The price band has been fixed at Rs 545-574 per equity share.
The public issue is entirely an offer for sale (OFS) of up to 17.09 crore equity shares by existing shareholders State Bank of India (SBI) and Amundi.
SBI will sell a 6.3 percent stake, while Amundi will divest 3.7 percent.
Post listing, SBI's holding will decline to 55.46 percent from 61.76 percent, while Amundi's stake will reduce to 32.56 percent.
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The issue size was earlier proposed at Rs 11,693 crore but was subsequently reduced after the company completed a pre-IPO placement of about Rs 1,880 crore.
At the upper end of the price band, SBI Funds Management is valued at around Rs 1.2 lakh crore.
Set up in 1987, SBI Funds Management is India's largest asset management company by quarterly average assets under management (QAAUM), with Rs 12.51 lakh crore in mutual funds and a 15.3 percent market share as of March 31, 2026.
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