SBI Funds Management set its IPO price band at Rs 545 to Rs 574 per share. The Rs 11,693 crore issue represents India’s largest public offering for 2026.
The IPO consists entirely of an offer for sale. State Bank of India will sell a 6.3% stake in the subsidiary. Joint venture partner Amundi will offload a 3.7% stake.
SBI expects to generate gross proceeds of Rs 7,366 crore at the upper price limit. This divestment serves as a significant value-unlocking exercise for the parent bank.
The subscription window opens July 14 and closes July 16. The company expects to list on the exchanges on July 21.