SBI Funds IPO opens priced ₹545-574 valued 38x FY26
SBI Funds Management, backed by State Bank of India, just opened its IPO for subscription today.
Shares are priced between ₹545 and ₹574, and the entire offer is a sale by SBI and Amundi India Holding.
At the top price band, it's valued at 38 times FY26 earnings; so it's definitely catching attention.
SBI funds could shape ₹4.81T pipeline
This launch could shape how nearly ₹4.81 trillion worth of upcoming IPOs are priced and timed this year.
Big names like Jio Platforms and NSE are waiting in the wings, while SEBI-approved issues total ₹2.97 trillion and another ₹1.84 trillion is still pending clearance.
Since SBI Funds is entering with a lower valuation than ICICI Prudential AMC, it might set new trends for future listings.
Domestic institutions 35%-45% pressure small IPOs
Domestic institutional investors now make up 35% to 45% of primary market flows, which means less reliance on foreign money.
But with several large IPOs launching together, things could get competitive: smaller companies may have to adjust their prices to attract buyers as liquidity gets tighter later in the year.