SBI Funds Management IPO Day 3: Issue subscribed 2.77x so far. Check GMP, issue details, key dates. Apply or skip?

SBI Funds Management's ₹9,795-crore IPO was subscribed 2.77 times on Day 3, with NII portion booked 6.58x and QIB at 1.50x, and is priced at ₹545-574 per share. The issue raised ₹2,663 crore from 129 anchor investors including GIC, ADIA, BlackRock, Goldman Sachs, and LIC, while grey market premium stood at +92, indicating an estimated listing price of around ₹666 (16% premium). Brokerages Swastika Investmart and Nirmal Bang recommended Subscribe, citing the company's leadership as India's largest AMC with 15.3% market share and ₹12.51 lakh crore QAAUM, though the issue is a 100% offer for sale with no fresh capital infusion.