SBI Funds Management IPO 2026: Band, Dates, OFS Details

Price band set at ₹545 to ₹574

SBI Funds Management Limited’s initial public offering has a price band of ₹545 to ₹574 per equity share (face value Re 1), as per the issue details shared in the market. The public issue is scheduled to open on Tuesday, July 14, 2026, and close on Thursday, July 16, 2026. The issue is structured as a 100% offer for sale (OFS), which means no fresh shares are being issued by the company. As a result, the proceeds will go to the selling shareholders and not to SBI Funds Management.

Issue size and nature: ₹11,102 crore pure OFS

The OFS aims to raise ₹11,102 crore. The selling shareholders are the existing promoters, State Bank of India (SBI) and Amundi India Holding. The RHP-related disclosures also describe the IPO as an offer to sell up to 203.71 million equity shares, representing up to 10% of SBI Funds Management’s paid-up equity share capital. Since it is a pure OFS, the transaction is primarily a liquidity and ownership dilution event for the promoters rather than a capital-raising exercise for business expansion.

Who is selling and how many shares

Under the OFS structure disclosed alongside the RHP filing, SBI plans to divest up to 128.33 million equity shares, which is described as a 6% stake in SBI Funds Management. Joint venture partner Amundi India Holding is set to sell up to 75.37 million equity shares, representing a 3.70% stake. Together, these add up to the total OFS size of up to 203.71 million shares. Another representation of the same share counts is provided in crore terms: SBI selling 12.83 crore shares and Amundi India Holding selling 7.54 crore shares.

Key IPO dates: anchor, allotment, refunds, listing

The anchor investor allocation is scheduled for Monday, July 13, 2026, one working day before the issue opens. The basis of allotment is expected to be finalised on Friday, July 17, 2026. Refunds are expected to be initiated on Monday, July 20, 2026, and shares are expected to be credited to demat accounts the same day. The listing is expected on Tuesday, July 21, 2026, on both BSE and NSE.

Investor quotas and category-wise reservation

The issue sets out standard reservation limits across investor categories. Not more than 50% of the shares in the public issue are reserved for qualified institutional buyers (QIB). Not less than 15% is reserved for non-institutional investors (NII/HNI). Not less than 35% is reserved for retail investors.

The timeline also notes a category-specific schedule detail: the QIB portion is expected to close on Wednesday, July 15, 2026, a day before the issue closes for other categories. Separately, it is stated that up to 60% of the QIB portion may be allocated to anchor investors one working day before the issue opens, with lock-in requirements where half of the anchor allocation is locked for 30 days and the remaining half for 90 days.

Lot size and employee discount

The IPO lot size is 26 equity shares, and bids can be placed in multiples of 26 shares thereafter. Eligible employees are being offered a discount of ₹54 per equity share. For retail applicants, the lot-based structure determines the minimum investment, while the employee discount reduces the effective purchase price for eligible staff within the applicable category.

What the RHP filing signals and what approvals matter

SBI has said in a regulatory filing that SBI Funds Management has filed the red herring prospectus for the proposed IPO. The offering is described as subject to receipt of necessary regulatory approvals, prevailing market conditions, and other customary considerations. This regulatory framing is important for investors tracking the timetable because it clarifies that the launch and completion of the issue follow standard market and regulatory processes even after documentation is filed.

Valuation and fund-raise expectations reported in the market

Some market reporting has indicated that the IPO could raise up to $1.2 billion. The same reporting said the asset manager plans to seek a valuation of 1.15 trillion rupees to 1.20 trillion rupees, lower than earlier expectations of $14 billion to $15 billion. These figures were attributed to people familiar with the matter, and were described as private information.

Company snapshot and where it operates

SBI Funds Management Limited is an asset management company engaged in managing mutual fund schemes of SBI Mutual Fund. The company’s address is listed as: 9th Floor, Crescenzo, C-38 & 39, G Block, Bandra Kurla Complex, Bandra (East), Mumbai, Maharashtra, 400051. The contact details provided include phone +91 22 6179 3000, email companysecretary@sbimf.com, and website https://sbifunds.com/investor-relations. The IPO will give public market investors an opportunity to buy a stake in India’s largest mutual fund company, with shares expected to list on both BSE and NSE.

Key facts table

Market impact: what investors should track

Because the issue is entirely an OFS, investor attention is likely to stay on the offer size (₹11,102 crore), the pricing band (₹545-₹574), and the supply of shares coming from SBI and Amundi India Holding. The presence of an anchor portion on July 13 and the QIB portion closing on July 15 are operational details that can shape how participation builds through the three-day window. Retail applicants will also watch the lot size of 26 shares and the allotment and listing timetable, since the key post-bid dates are tightly sequenced from July 17 to July 21.

Conclusion

SBI Funds Management’s IPO is scheduled for July 14-16, 2026, with a price band of ₹545-₹574 and an OFS size of ₹11,102 crore. The issue involves promoter stake sale by SBI and Amundi India Holding, with no fresh issue component. Investors tracking the offer will focus on anchor participation on July 13, the basis of allotment expected on July 17, and the expected listing on July 21 on BSE and NSE.