SBI Funds Management IPO
SBI Funds Management Limited (SBIFUNDS) · mainboard IPO on NSE and BSE · 100% Book Building. Listed on 21 July 2026.
Issue details
Listing day
Back-tested estimate (from a model that had only seen earlier years' IPOs): listing gain +24.9% (likely range +6% to +57%), day's high +31.5%, chance of a gain 82%. Actual: +6.8% at the open, +8.9% at the high.
Subscription status
| Category | Shares offered | Shares bid for | Subscribed | |
|---|---|---|---|---|
| QIB (institutions) | 3,09,28,731 | 4,33,32,71,956 | 140x | |
| NII (HNI) total | 2,31,96,549 | 52,21,84,416 | 22.5x | |
| Big NII (above ₹10 lakh) | 1,54,64,366 | 40,22,20,000 | 26.0x | |
| Small NII (₹2-10 lakh) | 77,32,183 | 11,99,64,416 | 15.5x | |
| Retail | 5,41,25,280 | 19,46,77,574 | 3.60x | |
| Employees | 32,57,347 | 1,51,49,992 | 4.65x | |
| Shareholders | 1,30,55,629 | 12,42,63,542 | 9.52x | |
| Total | 12,45,63,536 | 5,18,95,47,480 | 41.7x |
Bids on NSE and BSE together, as published by NSE, as of 16 Jul 2026, 07:00 PM. Shares offered exclude the anchor portion. 5% of all shares bid for were at the cut-off price.
Past IPOs with similar demand
Earlier mainboard IPOs whose QIB, NII and retail subscription and size were closest to SBI Funds Management's, and how they listed.
| IPO | QIB | NII | Retail | Total | Size | Listing gain | Day high |
|---|---|---|---|---|---|---|---|
| ICICI Prudential Asset Management CompanyDec 2025 | 124x | 22.0x | 2.53x | 39.2x | ₹10,603 Cr | +20.1% | +23.0% |
| LG Electronics IndiaOct 2025 | 167x | 22.4x | 3.55x | 54.0x | ₹11,607 Cr | +50.0% | +53.4% |
| Cello WorldNov 2023 | 109x | 24.4x | 3.06x | 38.9x | ₹2,068 Cr | +27.9% | +29.2% |
| Vishal Mega MartDec 2024 | 80.7x | 14.2x | 2.31x | 27.3x | ₹8,432 Cr | +33.3% | +46.7% |
| Tenneco Clean Air IndiaNov 2025 | 166x | 40.7x | 5.11x | 58.8x | ₹3,781 Cr | +27.2% | +30.2% |
| Belrise IndustriesMay 2025 | 108x | 38.3x | 4.27x | 41.3x | ₹2,276 Cr | +11.1% | +13.8% |
Lead managers and their listing record
| Book running lead manager | Mainboard IPOs since 2019 | Avg listing gain | Listed at a premium |
|---|---|---|---|
| Kotak Mahindra Capital Company | 83 | +20.8% | 76% |
| Axis Capital | 107 | +20.4% | 73% |
| BofA Securities India | 18 | +30.6% | 72% |
| HSBC Securities and Capital Markets (India) | 15 | +8.3% | 87% |
| ICICI Securities | 109 | +21.3% | 69% |
| Jefferies India | 26 | +19.5% | 81% |
| JM Financial | 109 | +22.8% | 75% |
| Motilal Oswal Investment Advisors | 47 | +15.0% | 72% |
| SBI Capital Markets | 56 | +16.7% | 61% |
Offer documents (NSE)
Frequently asked
What is the SBI Funds Management IPO price band and lot size? ₹545–574 per share, with a lot of 26 shares, so the smallest retail bid is ₹14,924.
How many times has it been subscribed? 41.7x overall: QIB 140x, NII 22.5x, retail 3.60x, employees 4.65x.
How did it list? It opened at ₹613, +6.8% against the issue price of ₹574, and closed its first day +6.2%.
