SBI Funds launches biggest IPO of 2026, price band set at ₹545-574 per share

SBI Funds Management Ltd filed its red herring prospectus for an IPO worth up to ₹11,693 crore, the biggest equity offering on D-street so far in 2026. The price band has been set at ₹545-574 per share, with subscription opening on 14 July and the asset manager commanding a market capitalisation of nearly ₹1.17 trillion at the upper end. The issue is entirely an offer for sale, with promoter SBI offloading 128.3 million shares (6.3% stake) and joint venture partner Amundi India Holding selling up to 75.6 million shares (3.7% stake).