SBI Funds Management IPO closes with 42x subscription, led by strong QIB demand; GMP signals healthy listing

SBI Funds Management IPO closed with an overall subscription of nearly 41.7 times, receiving bids for 519 crore shares against 12.45 crore shares on offer. QIB segment saw exceptionally strong demand at 140x subscription, NII at 22.51x, while retail was subscribed 3.76 times. The ₹9,795 crore OFS priced at ₹545-₹575 saw GMP rise to ₹95 per share, indicating an estimated listing price of around ₹669, implying a premium of nearly 16.55% over the upper price band.