SBI Funds Management IPO Day 1: Issue opens today. GMP hints 17% listing pop. Check issue details, review. Apply or not?
Awaiting price reaction for this filing.
SBI Funds Management's 9,795 crore rupee IPO opened for subscription on 14 July at a price band of 545-574 per share, with anchor investors committing 2,663 crore rupees at the upper end, drawing participation from GIC, ADIA, BlackRock, Goldman Sachs, Norges Bank, LIC, and HDFC Mutual Fund. India's largest asset management company with a 15.3% market share and 12.51 lakh crore rupees in mutual fund QAAUM as of March 2026, the issue is a 100% offer-for-sale with a grey market premium of around 100 rupees, indicating an estimated 17.4% listing gain. Both Swastika Investmart and Nirmal Bang Securities recommended Subscribe, citing attractive valuations at 33.6-38.1 times FY26 EPS versus peers HDFC AMC and Nippon Life AMC.