Can SBI Funds’ Rs 9,813 crore mega IPO revive a dry stock market? CEO makes bold prediction

SBI Funds Management, India's largest asset manager with a 15.3% market share and QAAUM of Rs 12.51 lakh crore, is set to open its Rs 9,812 crore IPO on July 14 at a price band of Rs 545-574 per share. The IPO, reduced from Rs 11,693 crore after a Rs 1,655 crore pre-IPO placement to investors like Prashant Jain's 3P India Equity Fund and Tata AIG, is entirely an offer for sale by State Bank of India and Amundi India Holding, with the company receiving no proceeds. CEO Debasish Mishra said the offering aims to restore investor confidence and revive primary market activity, noting that the company priced attractively and is willing to leave money on the table.