SBI Funds Management Raises ₹2,663 Crore From Anchor Investors Before IPO Launch

SBI Funds Management raised ₹2,663 crore through its anchor investor allocation on July 13, ahead of the opening of its initial public offering (IPO). According to the company’s exchange filing, it allotted 4.63 crore equity shares to anchor investors at ₹574 per share, the upper end of the IPO price band.

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The anchor book witnessed participation from a mix of domestic and international institutional investors as the country’s largest asset management company prepares to launch its public issue.

Domestic and Global Institutions Participate

The anchor allocation included investments from BlackRock, Goldman Sachs, HDFC Mutual Fund, ICICI Prudential, Life Insurance Corporation of India (LIC), Nomura India and the Abu Dhabi Investment Authority, among other institutional investors.

The company has fixed the IPO price band at ₹545 to ₹574 per equity share. The public issue is entirely an offer for sale (OFS), with existing shareholders State Bank of India and Amundi India Holding divesting part of their stake. No fresh equity shares will be issued under the offering.

At the upper end of the price band, the company is valued at approximately ₹1.2 lakh crore.

IPO Opens on July 14

The SBI Funds Management IPO will open for public subscription on July 14 and close on July 16. Since the issue consists solely of an offer for sale, the proceeds from the share sale will be received by the selling shareholders rather than the company.

The public issue is one of the largest IPOs scheduled this year and is expected to be closely watched by institutional and retail investors amid a pipeline of upcoming primary market offerings.

Largest Asset Management Company in India

As of March 31, 2026, SBI Funds Management reported quarterly average assets under management (QAAUM) of ₹12.51 lakh crore, giving it a market share of 15.3%, according to the company’s prospectus.

The asset manager is also the oldest mutual fund company in India outside the erstwhile Unit Trust of India. It commenced operations in June 1987 and has since expanded its presence across equity, debt, hybrid and other investment categories.

IPO Market Activity Picks Up

The SBI Funds Management IPO comes at a time when activity in the primary market continues to remain steady. By the end of June 2026, 27 companies had collectively raised ₹22,572 crore through IPOs in India.

During the corresponding period last year, 24 companies had raised ₹45,375 crore through public issues.

The response to the SBI Funds Management IPO will be monitored closely as it could provide an indication of investor appetite for large public offerings expected to enter the market over the coming months.