SBI Funds IPO to test investor appetite for ₹4.81-trillion IPO pipeline
Awaiting price reaction for this filing.
SBI Funds Management's ₹9,813-crore IPO opened, priced at ₹545-574, valuing the firm at about 38 times FY26 earnings, below listed peer ICICI Prudential AMC. The issue, entirely an offer for sale by State Bank of India and Amundi India Holding, will test investor appetite for a pending IPO pipeline of around ₹4.81 trillion, against just ₹22,600 crore raised in the first half of 2026. Major upcoming issues include Jio Platforms (around ₹37,700 crore), NSE (₹30,000 crore), PhonePe (₹11,700 crore), Carlsberg India (₹6,300 crore) and Razorpay (₹4,700 crore), while approved companies include Manipal Health (₹10,000 crore), Zepto (₹9,500 crore), Avaada Electro (₹9,000 crore) and Oravel Stays/Oyo (₹6,650 crore).