SBI Funds Management Limited is India’s largest asset management company (AMC) by mutual fund QAAUM and acts as the investment manager for SBI Mutual Fund. Established in 1992, the company is promoted by State Bank of India and Amundi Group, combining SBI’s extensive distribution network with Amundi’s global asset management expertise.
As of March 31, 2026, the company had a 15.3% market share in India’s mutual fund industry with mutual fund QAAUM of ₹12.51 lakh crore. Across all businesses, including mutual funds, PMS, AIFs, SIFs, and international mandates, it managed total QAAUM of ₹29.46 lakh crore.
As of March 31, 2026, the company served approximately 1.8 crore unique investors and managed 128 mutual fund schemes across equity, debt, arbitrage, ETFs, index funds, overseas fund-of-funds, liquid and overnight fund categories.
The company has a strong pan-India distribution network supported by an omnichannel strategy. As of March 31, 2026, its network included 132,519 mutual fund distributors, comprising 122,460 IFAs, 9,964 national distributors, and 95 banks, including SBI.
The company offers a diversified range of investment solutions including:
- Mutual Funds
- Portfolio Management Services (PMS)
- Alternative Investment Funds (AIFs)
- Specialized Investment Funds (SIFs)
- Advisory mandates and institutional asset management services
It is India’s largest PMS manager with a 39.7% market share and operates one of India’s largest SIF platforms with AUM of ₹2,995 crore, representing a 28.2% market share as of March 31, 2026.
The company also has a strong international presence through its subsidiaries in Mauritius and GIFT City, offering offshore India-focused investment products and facilitating global investments into India.
Its international operations include India-focused mandates for institutional investors across Japan, Australia and South Korea, UCITS India-focused funds sponsored by Amundi and advisory services for global emerging market strategies.
As of March 31, 2026, the company’s international AUM in India-focused mandates stood at approximately ₹18,436 crore, while UCITS India-focused funds managed assets of approximately ₹8,031 crore across Europe, the Middle East, South America and Southeast Asia.
SBI Funds Management IPO – Details
| IPO Opening Date | 14 July 2026 |
| IPO Closing Date | 16 July 2026 |
| Issue Type | Book Built Issue IPO |
| Issue Size | Total Issue Size: 20,37,09,239 Shares Worth ₹11,692.91 Crore Offer For Sale: 20,37,09,239 Shares Worth ₹11,692.91 Crore |
| Face Value | ₹1 per equity share |
| IPO Price | ₹545 – ₹574 per share |
| Market Lot | 26 Shares |
| Min Order | 26 Shares [1 Lot] |
| Employee Discount | ₹54 |
| Listing At | BSE, NSE |
| Register | Kfin Technologies Ltd. |
| QIB Shares Offered | 50% |
| NII (HNI) Shares Offered | 15% |
| Retail Shares Offered | 35% |
SBI Funds Management IPO – Date Schedule
| IPO Open Date | 14 July 2026 |
| IPO Close Date | 16 July 2026 |
| Basis of Allotment | 17 July 2026 |
| Initiation of Refund | 20 July 2026 |
| Credit of Shares to Demat Account | 20 July 2026 |
| IPO Listing Date | 21 July 2026 |
| Cut-off time for UPI mandate confirmation | 5 PM on July 16, 2026 |
SBI Funds Management IPO – Lots Size & Price
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 26 | ₹14,924 |
| Retail (Max) | 13 | 338 | ₹1,94,012 |
| S-HNI (Min) | 14 | 364 | ₹2,08,936 |
| S-HNI (Max) | 67 | 1742 | ₹9,99,908 |
| B-HNI (Min) | 68 | 1768 | ₹10,14,832 |
IPO Reservations
| Category | Shares Offered | % | Amount |
|---|---|---|---|
| QIB | 9,36,98,132 Shares | 46% | ₹5,378.27 Crore |
| HNI | 2,81,09,439 Shares | 13.80% | ₹1,613.48 Crore |
| Retail | 6,55,88,692 Shares | 32.20% | ₹3,764.79 Crore |
| Shareholder | 1,30,55,629 Shares | 6.41% | ₹749.39 Crore |
| Employee | 32,57,347 Shares | 1.60% | ₹169.38 Crore |
Competitive Strength
- The largest asset management company in India in terms of mutual fund assets under management, benefiting from strong operating leverage driven by scale and growth.
- Market-leading SIP franchise with a 15.5% market share by live SIP count and strong investor stickiness.
- Dual Parentage – Integration of State Bank of India’s domestic franchise with Amundi’s global expertise.
- Process-driven investment framework with demonstrated track record of product innovation and consistent investment performance.
- Well-diversified, Pan-India multi-channel distribution infrastructure.
- Robust technology infrastructure and data-driven investor engagement.
- Disciplined governance and risk management underpinning long-term stewardship.
Company Promoters
- State Bank of India
- Amundi India Holding
- Amundi Asset Management
Company Financials
| Particulars | Total Revenue | Total Expense | Profit After Tax | Total Borrowing |
|---|---|---|---|---|
| 31 March 2024 | ₹3,426.08 Cr | ₹752.46 Cr | ₹2,072.79 Cr | ₹182.02 Cr |
| 31 March 2025 | ₹4,236.15 Cr | ₹871.81 Cr | ₹2,540.15 Cr | ₹255.12 Cr |
| 31 March 2026 | ₹4,976.11 Cr | ₹970.62 Cr | ₹3,067.38 Cr | ₹326.73 Cr |
Key Performance Indicator
| KPI | Values (Mar 31, 2026) |
|---|---|
| ROE | 43.02% |
| RoNW | 43.02% |
| EBITDA Margin | 92.46% |
| Price to Book Value | 19.60 |
| Pre IPO | Post IPO | |
| EPS (₹) | 15.06 | 15.06 |
| P/E (x) | 38.12 | 38.12 |
Object Of The Issue
The SBI Funds Management IPO is entirely an Offer for Sale (OFS). The company will not receive any proceeds from the issue, as the shares are being sold by the existing Promoter Selling Shareholders.
The primary objectives of the IPO are:
- Offer for Sale: To facilitate the sale of up to 203,709,239 equity shares with a face value of ₹1 each by the Promoter Selling Shareholders.
- Stock Exchange Listing: To list the company’s equity shares on the stock exchanges, providing investors with a transparent and liquid public market for trading the shares.
Additionally, the company believes that listing on the stock exchanges will enhance its brand visibility, corporate image, and market presence, while improving shareholder value through increased liquidity and wider investor participation.
SBI Funds Management IPO Peer Comparison
| S. No. | Face Value (₹) | Company Name | P/E Ratio |
|---|---|---|---|
| 1 | 1 | ICICI Prudential Asset Management Company Limited | 49.38 |
| 2 | 5 | HDFC Asset Management Company Limited | 41.71 |
| 3 | 10 | Nippon Life India Asset Management Limited | 51.10 |
| 4 | 5 | Aditya Birla Sun Life Asset Management Company Limited | 34.46 |
| 5 | 10 | UTI Asset Management Company Limited | 31.57 |
✅Strengths
- Market leader in the Indian mutual fund industry with 15.3% market share.
- Strong parentage from SBI and Amundi Group.
- Large and diversified asset management platform across MF, PMS, AIF and SIF.
- Extensive distribution network with 132,519 distributors and 95 banking partners.
- Strong international presence through Mauritius and GIFT City subsidiaries.
- India’s largest PMS manager with 39.7% market share.
⚠️Risks
- Revenue is highly dependent on market performance and AUM growth.
- Changes in SEBI regulations and TER limits may impact profitability.
- Dependence on distribution partners and SBI network for fund inflows.
- Intense competition from other AMCs and passive investment products.
- Business performance is sensitive to equity market volatility.
- Any reputation or compliance issues could impact investor confidence.
SBI Funds Management IPO Promoter Holding
| Pre-Issue Share Holding | 98.02% |
| Post Issue Share Holding | 88.00% |
SBI Funds Management IPO Prospectus
Company Contact Information
| SBI Funds Management Limited 9 th Floor, Crescenzo, C – 38 & 39, G Block, Bandra Kurla Complex, Bandra (East), Mumbai, Maharashtra, 400051 Phone: +91 22 6179 3000 Email: companysecretary@sbimf.com Website: https://sbifunds.com/ |
SBI Funds Management IPO Registrar
| Kfin Technologies Ltd. Phone: 04067162222, 04079611000 Email: sbifml.ipo@kfintech.com Website: https://ipostatus.kfintech.com/ |
SBI Funds Management IPO Lead Manager(s)
| 1. JM Financial Limited 2. Axis Capital Limited 3. ICICI Securities Limited 4. SBI Capital Markets Limited 5. BofA Securities India Limited 6. Jefferies India Private Limited 7. Kotak Mahindra Capital Company Limited 8. Motilal Oswal Investment Advisors Limited 9. HSBC Securities and Capital Markets (India) Private Limited |
SBI Funds Management IPO FAQs
| What is the SBI Funds Management IPO? SBI Funds Management IPO is a main-board IPO. The issue is priced at ₹545 to ₹574 per equity share. The IPO is to be listed on the BSE & NSE. |
| When will the SBI Funds Management IPO open? The IPO is to open on 14 July 2026 for QIB, NII, and Retail Investors. |
| What is SBI Funds Management IPO Investors Portion? The investors’ portion for QIB – 50%, NII – 15%, and Retail – 35%. |
| What is the SBI Funds Management IPO Size? SBI Funds Management IPO size is ₹11,692.91 Crore. |
| What is the SBI Funds Management IPO Minimum and maximum lot sizes for Retail? The minimum bid is 26 Shares with ₹14,924, while the maximum bid is 338 Shares with ₹1,94,012. |
| What is the SBI Funds Management IPO Allotment Date? SBI Funds Management IPO allotment date is 17 July 2026. |
| What is the SBI Funds Management IPO Listing Date? SBI Funds Management IPO listing date is 21 July 2026. The IPO is to be listed on the BSE and the NSE. |
