SBI Funds Management IPO: SBI offloads 1.42% stake to 30 investors ahead of issue | Check latest GMP, IPO details

State Bank of India has completed a pre-IPO placement of its subsidiary SBI Funds Management, selling 1.42 percent stake (about 2.88 crore shares) to 30 investors at 574 rupees per share, aggregating 1,655 crore rupees. The book-built IPO of SBI Funds Management is sized at 11,692.91 crore rupees and comprises only an Offer for Sale with no fresh issue component, with subscription opening on July 14 and closing on July 16, 2026. Grey market premium stood at 110 rupees, implying an estimated listing gain of 19.16 percent over the upper price band.