SBI Funds Management shares debuted on the National Stock Exchange at ₹613.30. This opening price represents a 6.85% premium over the ₹574 issue price. The listing follows a successful $1.03 billion (₹9,813 crore) initial public offering.
Parent companies State Bank of India and Amundi conducted the IPO entirely as an offer for sale. Investors subscribed to the total issue 41.66 times. Qualified institutional buyers subscribed to their specific portion 140 times.
The final listing premium proved more moderate than grey market predictions. SBI Funds Management currently operates as India’s largest asset manager.