Overview
SBI Funds Management, a joint venture between State Bank of India and Amundi, is conducting a ₹1.2 billion initial public offering. As part of the IPO, it allocated 46.4 million shares to anchor investors at ₹574 per share, the top of the price band, raising ₹26.63 billion (≈ $278.5 million).
Anchor Investor Allocation
- The Government of Singapore received 2.7 million shares, representing 5.72 % of the anchor book.
- The Monetary Authority of Singapore took 1.04 % of the anchor book.
- Abu Dhabi Investment Authority, Norway’s sovereign wealth fund and BlackRock funds each purchased 1.6 million shares.
- LIC and Canada’s Capital Group Global Equity Fund each bought 3.1 million shares, amounting to 6.76 % of the anchor book.
- Domestic mutual funds, including those managed by HDFC, ICICI and Axis, were allocated 37.2 % of the anchor book, valued at about ₹9.91 billion.
Shareholding and Valuation
SBI and Amundi together are off‑loading a total of 203.7 million shares in the offering; SBI Funds itself is not issuing new shares. The IPO seeks a valuation of up to ₹1.17 trillion, making it one of the largest Indian public offerings of the year.
Public Offering Timeline
The remaining shares will be offered to the public from 14 July to 16 July 2026 at a price band of ₹545‑₹574 per share.