The initial public offering of SBI Funds Management Ltd, which manages SBI Mutual Fund, was subscribed 1.80 times so far on the second day of bidding on Wednesday, July 15, according to NSE data until 4:26 pm.
The issue received bids for 22,45,34,180 shares against 12,45,63,536 shares on offer.
Category-Wise Subscription
The portion reserved for qualified institutional buyers (QIBs) was subscribed 0.32 times, with bids for 1,00,41,304 shares against 3,09,28,731 shares on offer.
4 July 2026
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The non-institutional investors category was subscribed 5.38 times. Within this, the segment for bids above ₹10 lakh was subscribed 6.20 times, while the segment for bids between ₹2 lakh and ₹10 lakh was subscribed 3.73 times.
The retail individual investors (RIIs) category received bids for 5,03,25,782 shares against 5,41,25,280 shares reserved, subscribing 0.93 times.
The employee quota was subscribed 0.79 times, with bids for 25,57,048 shares against 32,57,347 shares on offer.
The shareholders' quota, reserved for existing SBI shareholders, was subscribed 2.82 times, with bids for 3,68,66,284 shares against 1,30,55,629 shares on offer.
About The Issue
The ₹9,812.91 crore public issue, which will conclude on July 16, is entirely an offer for sale (OFS) of up to 17.09 crore shares by existing shareholders State Bank of India (SBI) and Amundi.
The issue was earlier proposed to raise ₹11,693 crore but was reduced after the company completed a pre-IPO placement of about ₹1,880 crore. The application size for a lot is 26 shares and multiples thereof.
"Our company expects that listing of the equity shares will enhance our visibility and brand image as well as provide a public market for the equity shares in India," the company said in its red herring prospectus (RHP).
Before the IPO opened, the company raised ₹2,663 crore from anchor investors, including GIC, Capital World Investors, BlackRock, Abu Dhabi Investment Authority, Fidelity Management & Research, Norges Bank, Goldman Sachs Asset Management, Life Insurance Corporation of India (LIC), HDFC Mutual Fund, Nippon India Mutual Fund, ICICI Prudential Mutual Fund and HDFC Life Insurance.
Set up in 1987, SBI Funds Management is the largest domestic asset management company (AMC) by quarterly average assets under management (QAAUM), with ₹12.51 lakh crore in mutual fund assets and a 15.3% market share as of March 2026.
