SBI Funds Management IPO 2026: Key dates, price band

What has been announced

State Bank of India (SBI) said it will sell a 1.42% stake in its asset management unit, SBI Funds Management, through a pre-IPO placement worth ₹1,655 crore. The placement involves 28.8 million shares being sold to 30 investors. Names cited among participating investors include Tata AIG General Insurance, Go Digit General Insurance, 360 ONE funds, Bennett Coleman, and several alternative investment funds and family offices.

The pre-IPO placement comes ahead of SBI Funds Management’s main public issue, which is scheduled to open for bidding on July 14 and close on July 16, 2026. The company is a joint venture between SBI and Europe’s largest asset manager, Amundi.

IPO window and key process dates

The IPO is scheduled as a three-day issue. The offer opens on Tuesday, July 14, 2026, and closes on Thursday, July 16, 2026. The shares are expected to list on Indian stock exchanges on July 21, 2026, subject to completion of the issue process.

Other process dates provided include the basis of allotment on July 17, 2026, and the credit of shares to demat accounts and initiation of refunds on July 20, 2026. The equity shares are proposed to be listed on both the BSE and the NSE.

Price band, lot size, and retail ticket size

SBI Funds Management has set a price band of ₹545 to ₹574 per share for the IPO. At the upper end of ₹574 per share, a retail investor would need to invest ₹14,924 for one lot.

The lot size is 26 shares. These figures define the minimum retail application amount based on the upper price band.

Issue structure: 100% offer for sale

The IPO is entirely an offer for sale (OFS). SBI Funds Management is not issuing new shares and will not receive any proceeds from the issue.

The offer consists solely of the OFS component, including up to 203,709,239 equity shares of face value ₹1 each, aggregating up to ₹11,693 crore. The Red Herring Prospectus (RHP) also states that each promoter selling shareholder will be entitled to its respective portion of the OFS proceeds, after deducting its portion of offer-related expenses and relevant taxes, as per the Offer Agreement.

Who is selling and how much

The promoter selling shareholders in the OFS are State Bank of India and Amundi India Holding. SBI is selling up to 128.3 million shares, while Amundi India Holding will divest up to 75.4 million shares. Together, they are offloading about 10% of SBI Funds Management’s paid-up equity capital.

More granular figures shared for the OFS indicate SBI selling 12,83,34,397 shares and Amundi India Holding offloading 7,53,74,842 shares. The total OFS size is stated as up to 20,37,09,239 shares.

Pre-IPO placement: stake size, amount, and investors

Ahead of the IPO, SBI’s pre-IPO placement involves selling 1.42% in SBI Funds Management for ₹1,655 crore. SBI is selling 28.8 million shares to 30 investors.

Investors named include Tata AIG General Insurance, Go Digit General Insurance, 360 ONE funds, and Bennett Coleman. The investor list is also described as including several alternative investment funds and family offices.

Valuation signals and headline size

Reuters reported SBI Funds Management is seeking a valuation of up to ₹1,17,000 crore (₹1.17 trillion) in the IPO. The IPO size is described as $1.22 billion in that report, and anchor investors are expected to bid on July 13.

Separately, an IPO information snapshot cites a pre-IPO market capitalisation of ₹1,16,913.90 crore. The price band for the book-built issue remains ₹545 to ₹574 per share across sources.

SBI’s expected proceeds and stated gain (as per RHP-based figures)

One section citing the Red Herring Prospectus said SBI is set to unlock around ₹7,364 crore through the proposed IPO, as it pares its stake in the asset management company via the OFS.

At the upper end of the price band, and assuming full subscription, SBI is expected to realise ₹7,366.39 crore from the sale of its shares through the OFS. SBI’s average acquisition cost for its investment is stated at ₹0.15 per share, translating into a total acquisition cost of approximately ₹1.93 crore. After adjusting for the acquisition cost, the transaction is described as likely to generate a pre-tax gain of ₹7,364.47 crore for SBI.

Key facts table

Company contact details mentioned

SBI Funds Management’s address is listed as 9th Floor, Crescenzo, C - 38 & 39, G Block, Bandra Kurla Complex, Bandra (East), Mumbai, Maharashtra, 400051. The telephone number provided is +91 22 6179 3000 and the email is companysecretary@sbimf.com.

Why this matters for investors and the AMC sector

Because the IPO is entirely an OFS, the transaction primarily reshapes ownership rather than adding capital to the asset manager’s balance sheet. The proceeds flow to SBI and Amundi India Holding as selling shareholders, consistent with the RHP statement on distribution of OFS proceeds.

The combination of a pre-IPO placement and a large OFS puts focus on pricing discipline, investor demand across institutions, and clarity on stake sale mechanics. With listing expected on July 21 and anchor bidding set for July 13, the issue has a tight, well-defined timetable.

Conclusion

SBI Funds Management’s IPO opens July 14 with a ₹545-574 price band and a proposed listing on July 21, 2026. SBI’s ₹1,655 crore pre-IPO placement and the ₹11,693 crore OFS structure underline that the issue is a stake sale by SBI and Amundi, with no fresh issue proceeds going to the company.