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IPO

SBI Funds Management’s Rs.9,813-Cr IPO closes with 42x subscription

Mint  

The initial public offering (IPO) of Mumbai-based SBI Funds Management has raised capital via an offer for sale of 17.10 crore equity shares. The IPO is a book-build issue of INR 9,812.91 crore and is entirely an offer for sale of 17.10 crore shares.Qualified institutional buyers led the demand, subscribing 140 times, while the non-institutional investor segment was oversubscribed 22.51 times. Retail investors, employees, and shareholders also contributed to the offering, with their respective portions being subscribed 3.76 times, 4.65 times, and 9.52 times.Established in 1992, SBI Funds Management is a joint venture between State Bank of India and Amundi and operates as India's largest asset management company by assets under management (AUM). Following the transaction, the stake held by the State Bank of India (SBI) will decrease to 55.46% from 61.76%, and Amundi’s holding will decrease to 32.56%.The IPO was priced in the band of INR 545 - 575 per share, valuing the firm at about INR 1.16 lakh crore.

For FY25, SBI Funds Management had reported about INR 4,063 crore in Operating Income and about INR 2,540 crore in PAT.