How SBI shareholders can bid twice in arm's IPO

State Bank of India's mutual fund arm, SBI Funds Management, is set to open its IPO with a shareholder reservation quota benefiting existing SBI shareholders. Investors holding at least one SBI share as of the RHP filing date (July 7, 2026) can submit two separate applications, one under the retail category and another under the shareholder quota, effectively getting two independent chances of allotment. SBI had 36.33 lakh retail shareholders as of March 31, 2026, with the retail minimum lot size at 26 shares.