- SBI Funds Management Ltd got fully subscribed.
- Non-institutional investors' quota attracted 3.32 times subscription.
- SBI Funds Management IPO latest GMP was Rs 94.
The Rs 9812.91 crore initial public offering (IPO) of SBI Funds Management Ltd got fully subscribed on the second day of bidding on Wednesday. According to the latest data on NSE, IPO was subscribed 1.41 times or 141 per cent till 12:30 PM, receiving bids for 17,62,51,582 shares against 12,45,63,536 total offered shares.
SBI Fund Management IPO Subscription Status
The shares reserved for non-institutional investors attracted 3.32 times subscription, while the retail investors' quota received 1.12 times subscription till the above-mentioned time. At the same time, the portion meant for Qualified Institutional Buyers (QIBs) did not get much interest, getting merely 0.11 times or 11 per cent bids against the total allotted shares for the category.
SBI Funds Management earlier raised Rs 2,663 crore from anchor investors.
GMP Update
SBI Funds Management IPO latest GMP was Rs 94-- updated at 11:57 AM on Investorgain.com. With this, the stock hints at a potential listing at Rs 668, up 16.38 per cent from the upper price band of Rs 574.00.
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Should You Apply? Four brokerage firms give a 'Subscribe' rating
Four brokerage firms--Swastika Investmart, Arihant Capital, Anand Rathi brokerage firm, and Geojit Investment Ltd-- have expressed a positive view of the IPO, recommending subscription.
Anand Rathi firm highlighted SBI Funds Management's leadership position, with a 15.3 per cent share of the mutual fund industry's quarterly average assets under management (QAAUM) as of March 2026. Meanwhile, Swastika Investmart cited the company's scale, good margins, and attractive relative valuation.
Arihant Capital believes that the IPO is reasonably valued compared to similar listed companies, supported by the company's strong franchise, healthy profits, and superior return ratios.
Geojit Investments Limited also gave a 'subscribe' call for the SBI Fund Management IPO.
The brokerage highlighted that the Indian mutual fund AUM grew at 21 per cent CAGR from FY21 to FY26, reaching Rs 82 trillion, and is expected to grow at 16-18 per cent CAGR, reaching Rs 147-155 trillion.
Additionally, Geojit said that SBIFML reported a revenue CAGR of 18 per cent during FY24–26, reaching Rs 4,389cr, driven by AUM growth, which recorded a 17 per cent CAGR and reached Rs 12.5 lakh crore.
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IPO Details
Price Band: The price band for the book build issue has been fixed at Rs 545-574 per share.
Lot Size: To apply, retail investors have to buy a lot of 26 shares, meaning a minimum of Rs 1,4924 is needed to place a bid. Retail investors can place a bid up to 13 lots.
Offer For Sale: The share sale comprises around 17.09 crore equity shares, and this is entirely an offer-for-sale (OFS)--existing investors offloading stakes.
Issue Size: Rs 9,812.91 crore.
Share Reservation
The company reserved a minimum of 35 per cent of total issued shares for retail investors and 15 per cent for Non-Institutional Investors. Up to 50 per cent shares are reserved for Qualified Institutional Investors (QIIs).