SBI AMC IPO: Price Band Set at ₹545-574 for ₹11,692 Cr Offering

SBI Funds Management Ltd (SBI FML) has set its initial public offering (IPO) price band between Rs 545 and Rs 574 per equity share. The offer-for-sale, comprising up to 203,709,239 equity shares, opens for subscription from July 14 to July 16, 2026.

Key IPO Figures

• Price Band: Rs 545-574 per equity share
• Total Issue Size: Rs 11,102 crore (lower band) to Rs 11,692 crore (upper band)
• Minimum Bid: 26 Equity Shares
• Anchor Investor Bid: July 13, 2026
• Employee Discount: Rs 54 per Equity Share

SBI FML, incorporated in 1992, holds the title of India’s largest asset management company by quarterly average mutual fund assets under management (QAAUM). It also stands as the nation’s oldest AMC, commencing operations in June 1987.

Market Position

• Mutual Fund QAAUM: Rs 12,509.98 billion as of March 31, 2026
• Market Share (Mutual Fund QAAUM): 15.3%
• Total QAAUM (including PMS/advisory): Rs 29,461.05 billion as of March 31, 2026
• Largest Passive Asset Manager QAAUM: Rs 4,055.26 billion
• Market Share (Passive): 27.9%

The company’s total QAAUM recorded a CAGR of 14.22% between March 31, 2024, and March 31, 2026. Its mutual fund QAAUM grew at a CAGR of 16.97% during the same two-year period.

SBI FML became a joint venture in 2004 with Société Générale Asset Management S.A., which later transitioned to Amundi India Holding. The current promoters include State Bank of India, Amundi India Holding, and Amundi Asset Management.

Offer Management

The IPO will be managed by book-running lead managers such as Kotak Mahindra Capital Company Limited and Axis Capital Limited, among others. KFin Technologies Limited will serve as the registrar for the offer.

The offer, structured via a book-building process, includes specific allocations for qualified institutional buyers, non-institutional bidders, and retail individual bidders. Reservations are also available for eligible SBI shareholders, SBIFM employees, and SBI employees.