SBI Funds Management IPO attracts ₹2.98L/cr in bids, India's 5th-largest
SBI Funds Management just wrapped up its IPO, and it's a big deal: bids hit ₹2.98 lakh crore, making this the fifth-largest IPO by total bid value in India ever.
The offer was subscribed 41.66 times, showing just how much buzz there is around this company.
Institutions bid ₹2.5L/cr nearly 140x
Big institutional investors really went for it, with their portion subscribed nearly 140 times and bids totaling ₹2.5 lakh crore.
On July 16, the shares were trading at a ₹92 premium in the gray market, hinting at a possible 16% jump over the top price of ₹574 per share when listed.
SBI Funds Management isn't new to the game either; it's India's oldest asset manager and leads in passive investment assets, managing nearly ₹4 lakh crore as of December 2025.
This IPO could make them even stronger in the industry.